SNB presser still in progress
No doubting that the SNB are definitely engaged in regular smoothing operations. Not that it's doing them much good
Jordan:
- Won't comment on SNB interventions
Eh? I thought they'd made it clear so why be so shy? Ah yes CB's always like to play the coy card
- a currency basket would not solve the problem of CHF strength
- monetary policy is focussed on CHF overvaluation
- public criticism of current policy is to be expected
- Greek situation uncomfortable for Switzerland
USDCHF 0.9170 EURCHF 1.0447
