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SNB's Jordan: Swiss franc remains significantly overvalued

Comments from the SNB leader Thomas Jordan:

  • CHF still significantly overvalued despite euro and USD gains
  • Policy of negative rates and FX intervention helping to stabilize prices
  • ECB monetary policy is particularly relevant for Switzerland
  • Continues to take account of exchange rates situation in setting monetary policy
  • Monetary policy alone cannot remedy all ill, especially structural ones
  • Will continue to make the most of Switzerland's monetary policy latitude to respond pragmatically to challenges

He's a bit more open than usual talking about FX intervention here but generally these are the same comments we've heard many times before.

EUR/CHF is near the March-April highs but still a long way from the 120+ where Jordan would like it to be.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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