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Swiss National Bank posts a loss
■ The Swiss National Bank posted a first-quarter loss yesterday due in part to a stronger Swiss franc, underscoring the challenge it faces in curbing the gains of a currency which is attracting investors seeking a safe haven amid the Eurozone debt crisis. The central bank said it made a consolidated loss of 1.7bn Swiss francs (£1.15bn) in the first three months of 2012. The franc climbed 9.6 per cent versus the yen and 3.8 per cent against the US dollar over the period, eroding the value of the SNB’s foreign exchange holdings.