CHF selling post reserve data a standout…
One corp, and now one reserve name
SNB HAS 242.697 BLN SFR IN FX RESERVES IN END OCT (SEPT 282.220 BLN SFR)…
So reserves fell by 40bio..
…moving EURCHF higher
SNB’s Danthine spoke in NYK last night
Further measures will be taken etc
Franc cap[ will ensure px stability, 1.20 remains high, should weaken over time…
HSBC Global Research