Finland exposed; Swiss franc on cusp of euro parity

As we argued only last week, the SNB has so far been willing to let the franc rise against the euro. However, policymakers’ tolerance would surely be tested if the franc were to push through the psychological barrier of parity, which now seems likely. A lot could depend on whether the ECB moves to shore up the euro, most likely through verbal interventions. Drop-In (8 March, 10:00 EST/15:00 GMT): We’re discussing Russian energy imports and Europe’s energy needs in this special 20-minute briefing on one of the big sticking points in the western response to the war in Ukraine. Register here.