There is a "new China" active in the currency markets, according to analysts, as Switzerland's battle to weaken the franc inflates its stockpile of foreign currency reserves.
在分析师看来，现在外汇市场上活跃着"第二个中国"，瑞士为压低瑞郎汇率而作出的举措，使其外汇储备规模大幅增长。The Swiss National Bankwas forced to buy tens of billions of euros in May and June after the eurozone crisis created strong haven demand for the franc and threatened the ceiling that the central bank set for the franc last September. The SNB is prepared to buy as many euros as necessary to hold the franc at SFr1.20 to the euro.
瑞士央行(Swiss National Bank)在今年5月和6月期间不得不买入了数百亿欧元，因为在欧元区危机的影响下，市场对于瑞郎这种低风险货币的需求变得愈加强烈，瑞士央行去年9月针对瑞郎汇率设定的上限甚至都受到了威胁。瑞士央行已随时准备买入欧元，买入规模将视实际所需而定，以期将欧元兑瑞郎的汇率维持在1.20瑞郎。As a result, Switzerland's foreign currency reserves have leapt 40 per cent this year to SFr365bn ($375bn), propelling it to be the sixth largest holder of foreign exchange in the world from ninth last year, behind China, Japan, Saudi Arabia, Russia and Taiwan.
受此影响，瑞士的外汇储备今年飙升了40%，达到3650亿瑞郎（合3750亿美元），这也使它由去年的全球第9大外汇储备国，一跃成为全球第6大外汇储备国，仅次于中国、日本、沙特阿拉伯、俄罗斯和台湾。
The proportion of euros held by the SNB also ballooned in the second quarter, rising from 51 per cent to 60 per cent. Foreign currency analysts said the bank was buying SFr3bn of euros a day to defend the Swiss franc, with serious knock-on effects for the global foreign exchange market. "Switzerland is the new incipient China," said Steven Englander, Citigroup's head of foreign exchange strategy.
今年第二季度，瑞士央行持有的欧元比重也大幅上升，由51%增至60%。外汇分析师表示，瑞士央行每天动用30亿瑞郎来买入欧元，以此维持瑞郎的汇率，这在全球外汇市场上引发了强烈的连锁反应。The SNB is believed to be partly responsible for moves in major currencies including the Australian dollar and the Swedish krona as it seeks to offload euros. The SNB declined to comment.
花旗集团(Citigroup)外汇策略主管史蒂文•英格兰德(Steven Englander)说："瑞士开始表现得像中国一样。"But that has consequences for other central banks, whose own currencies are rising in value as Switzerland sells its euros back to the market.
在瑞士央行寻求抛售欧元的过程中，从某种程度上而言，它被认为是影响澳元、瑞典克朗等主要币种汇率走势的幕后推手。瑞士央行拒绝置评。The Swedish krona has hit a 12-year high against the euro, while the Australian dollar is at record highs against the single currency.
但这对其他国家的央行造成了影响，因为随着瑞士重新向市场抛售欧元，这些国家的本币汇率随之走高。