Swiss National Bank News

Swiss government bond yields dropped to a record -0.23% on 31 May 2012. There is no reason why 2 Year Swiss government bonds should have such low yields , other than the fear that the euro will break up or that the peg between the euro and the Swiss franc is about to be abandoned.

The Swiss State Secretariat for Economic Affairs said Thursday that real gross domestic product rose 0.7 percent in the first three months compared with the previous quarter.

By Tony Paterson/Bern The promenades of Geneva and Zurich may seem a world away from the protests and turmoil plaguing the streets of Athens.

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Policymakers and firms across Europe are making preparations to cope with a break-up of the single currency, with the president of the Swiss central bank yesterday becoming the latest senior figure to admit to contingency plans for a "collapse" of the eurozone.

The New Zealand dollar rose against the greenback, following the euro higher amid reports the Swiss National Bank was looking to implement further measures to cap the Swiss franc's appreciation against the single currency.

Thomas Jordan, president of the Swiss National Bank , does not believe the eurozone will collapse.

Rumours have intensified in the currency markets after the euro/yen failed to break below of the 100 level by a sufficient margin.

Investors are increasing bets the Swiss National Bank will be unable to defend the franc's cap against the euro as the common currency comes under pressure on the prospect of Greece leaving the euro zone.

Former Swiss President Micheline Calmy-Rey has defended as "normal" Christoph Blocher's role in passing on to her details of the private banking transactions of then Swiss National Bank president Philipp Hildebrand last December.

The Swiss government is sticking with its forecast of modest growth for 2012, its economy minister said on Sunday, adding he was hopeful the euro zone's fiscal woes could be stabilised.

CMC Markets provides an analysis London, 3 May 2012. The recent turmoil in European markets saw investors exiting euros for the perceived safe haven of the Swiss franc.

The absence of strong directional trends has dampened investor appetite to trade foreign exchange, pushing volumes lower and curbing volatility - which allows traders to exploit intra-day movements to place profitable bets.