Swiss Franc Showdown Looms as Jordan Defends SNB Ceiling
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Swiss National Bank interim Chairman Thomas Jordan is facing a showdown with investors as his currency policy endures the biggest credibility test to date.
Within minutes of the franc breaching the 1.20 ceiling versus the euro yesterday for the first time since the measure was introduced on Sept. 6, the central bank declared its determination to fight any further attacks. Jordan, 49, is now in a face-off with investors probing just how far he will go to enforce that threat.