Swiss gold referendum and SNB risk
As EURCHF falls below 1.2030, it's time to highlight the potential problems facing the Swiss National Bank, as we approach the November 30th Swiss gold referendum on whether the central bank should raise gold reserves to hold 20% of its total reserves from the current 7.8%. And given the risks to its policy-making, the SNB may have to act pre-emptively. Full charts & analysis.
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