FXstreet.com (San Francisco) - The balance sheet of the Swiss National Bank (SNB) per end of June has shown that the share of EUR reserves has increased quite strongly in the second quarter 2012, according to the UBS analyst team. "As expected, the overall amount of reserves increased by around 120bn."
"However, the break down gives two interesting insights. As promised the SNB buys EUR in unlimited amounts and doesn't mind a higher share of EUR holdings for the time being", they say. "It thereby also emphasises that SNB reserve diversification is yet to come, limiting EUR upside".
"However, the break down gives two interesting insights. As promised the SNB buys EUR in unlimited amounts and doesn't mind a higher share of EUR holdings for the time being", they say. "It thereby also emphasises that SNB reserve diversification is yet to come, limiting EUR upside".
