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Three weeks after the SNB set the exchange rate floor on Sept. 6, Hildebrand sold his dollar holdings for a profit of 75,000 Swiss francs ($83,000), Weltwoche reported. "It's a classic forex speculation," said Gut. "The only option for Mr. Hildebrand is to step down." The Swiss National Bank said last month that Hildebrand's wife Kashya, a former currency trader who now runs an art gallery in Zurich, bought an unspecified amount of U.S. dollars for herself and her daughter. The central bank declined to say whether she sold them for a profit, but declared that the bank's board concluded Dec. 22 there had been no inappropriate transactions nor any abuse of privileged information. Weltwoche is considered close to the nationalist Swiss People's Party and its prominent billionaire backer, former Justice Minister Christoph Blocher. Bank Sarasin said in a statement late Tuesday the fired IT support specialist passed details of the Hildebrands' account to a People's Party lawyer, who then met with Blocher. Blocher, who has repeatedly criticized Hildebrand's management of the central bank, said through his spokesman he had no plans to comment on the Hildebrand case.
[Associated
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