The Swiss National Bank largely refrained from interventions to influence the franc in the first quarter as it depreciated against the dollar and the euro. Switzerland’s central bank bought currencies worth just 281 million francs ($313 million) from January to March, after sales of 22.7 billion francs the previous quarter, it said on Friday. This suggests that Swiss officials didn’t see much reason to steer the franc in either direction and instead were happy with the currency falling against major peers. By selling foreign-exchange reserves and buying its own currency, the SNB in 2022 started to prop up the ... (full story)