弃美元买欧元，全球第三大外汇储备央行缘何选择减持

Group 1 - The Swiss National Bank's foreign exchange reserves exceeded $1 trillion as of June 2025, with the dollar accounting for 37% and the euro for 39% [1] - The Swiss National Bank is diversifying its asset allocation, particularly increasing euro assets due to the current state of its balance sheet [2] - The Swiss franc has appreciated over 12% against the dollar this year, presenting new challenges for Swiss exports [2] Group 2 - The European Central Bank reported a decline in the dollar's share of global foreign exchange reserves by 2 percentage points in 2024, while the euro's share increased slightly [3] - Moody's downgraded the U.S. sovereign credit rating in May, raising concerns about U.S. fiscal credibility [3] - The Trump administration's policies are projected to increase the federal budget deficit by $2.42 trillion over the next decade [3]