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Swiss National Bank acted under its own responsibility in setting a floor for the euro/Swiss franc exchange rate at 1.20 francs

FRANKFURT (MarketWatch)
The European Central Bank on Tuesday said the Swiss National Bank acted under its own responsibility in setting a floor for the euro/Swiss franc exchange rate at 1.20 francs.
In a brief statement, the ECB said its Governing Council had been informed by the SNB of its decision to set the floor.
"The Governing Council takes note of this decision, which has been taken by the Swiss National Bank under its own responsibility."
The SNB decision sent the euro flying versus the Swiss franc.
Posted by El Genio at martes, septiembre 06, 2011

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