Newswire reports have become an accepted tool for empirical studies analyzing informational asymmetries in FX markets. This paper tests the accuracy of such reports for Swiss interventions in the foreign exchange market. The evidence finds that the time stamp of the reports does not always lie...

Based on real-time trade data from the Swiss franc overnight interbank repo market and SIX Interbank Clearing (SIC) the Swiss real-time gross settlement (RTGS) system we are able to gain valuable insights on the daytime value of money and its determinants: First, an implicit hourly interbank...