Review of 2012: April - June


Currency floor breach raises questions over SNB policy

April 12 - A controversial breach of the Swiss National Bank's (SNB) minimum exchange rate for EUR/CHF on April 5 - and the ongoing testing of the minimum rate this week - has raised questions among traders over whether the SNB should adjust its procedure for enforcing the minimum rate.

According to a memo sent to clients by interdealer broker Icap on April 5, the EBS platform printed a market low of 1.1990 in EUR/CHF at 09:41 GMT that day,