Is the SNB done selling euros?

Author: Jamie Coleman | Category: Central Banks

They announced this morning that the percentage of euros in the Swiss National Bank’s massive reserve hoard had dropped to 48% from 60%.

It is hard to see the percentage falling much more than that given Switzerland’s ties to broader European economy.

Some suggest the SNB may be done selling euros. That’s good news for EUR/USD and bad news for alternative destinations like AUD, if true.