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SNB’s Jordan: Swiss franc remains highly valued

  • Foreign exchange market remains fragile
  • Negative rates, readiness for intervention still necessary
  • Danger of a worsening international situation remains large
  • Imbalances in Swiss real estate market still persist

Some remarks by the Jordan, cited by the Swiss government. Nothing out of the ordinary here as they maintain their same messaging about the franc and the need to intervene in the FX market as and when is necessary.

Though the timing is a little interesting as we’re seeing the franc appreciate today on the back of more risk off flows in markets. EUR/CHF is now at a one-month low around the 1.09 handle and that may see the central bank start to get a little more hands on again.

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