CURRENCY traders may have a green light to push the franc higher after the Swiss National Bank refrained from joining global central banks in easing policy and as Europe's economy worsens.

THE growing threat of a global currency war is spurring the unprecedented European bond rally in more ways than one.

[ZURICH] The Swiss franc's surge in the wake of Turkish economic upheaval justifies the Swiss National Bank's ultra-loose monetary stance, SNB vice chairman Fritz Zurbruegg said on Wednesday.