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What is SNB Discontinues Minimum Exchange Rate about?

The Swiss National Bank (SNB) is discontinuing the minimum exchange rate of CHF 1.20 per euro and lowering interest rates, moving its target range further into negative territory. The SNB introduced the minimum exchange rate during a period of exceptional overvaluation and uncertainty, protecting the Swiss economy, and while the franc remains high, overvaluation has decreased. Recent divergences in monetary policies between major currency areas have increased, with the euro depreciating against the dollar a

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