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SNB’s Zurbruegg: Franc may see pressure again

SNB’s Zurbruegg: Franc may see pressure again

Central Banks
Adam Button
15/05/2013 | 16:13 GMT

Comments from Zurbruegg in Switzerland’s L’Hebdo:

  • Current exchange rate seems strong
  • Countries have easy monetary policy to boost growth
  • Cap to stay as long as needed for price stability

Naturally the SNB is pleased with EUR/CHF touching 1.25 today and they have toned down rhetoric. The comment that CHF ‘seems’ strong certainly doesn’t indicate any plot to hike the floor. If anything, these comments could weigh on EUR/CHF and with a 1.2400 option expiry tomorrow, there may be some further downside.

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