SNB Jordan: Strong Swiss Franc limits Swiss inflation

• Strong CHF limits swiss inflation
• See no sign swiss wage price cycle
• Inflation stubbornly above 2% would lead to policy tightening
• Difficult to say whether global rates have turned, much still depend on economic development

• CHF has remained stable in real terms
• Asked about real estate prices, Jordan says monetary policy aims primarily at price stability
• The SNB is not investing in crypto currencies

The USDCHF has moved to new session lows (higher CHF) and in the process has moved below the 100 hour MA at 0.92677.

The 38.2% at 0.9246 is the next target on the downside. Stay below the 100 hour MA is now a close risk for the sellers.