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SNB says remains prepared to intervene in FX market if necessary

  • Franc is currently sought after as a refuge currency
  • Franc appreciation also reflects inflation differential between Switzerland and other countries
  • The franc continues to be highly valued
  • SNB looks at overall currency situation
  • Individual currency pairs do not play a special role

Some verbal intervention there by the SNB but in typical cases for the franc, actions speak louder than words. That said, this could be a precursor before the “invisible hand” steps in. So, just be mindful of that.

On the last remark, the SNB is surely alluding to EUR/CHF as the pair hits parity for the first time since the 2015 fiasco.

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