During the Point Zero Forum banking conference held in Zurich yesterday, the upcoming launch of a Swiss CHF-based CBDC was announced by Thomas Jordan, the…
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Dec 17, 2020 10:17 GMTFXStreet News
Following the Swiss Nation Bank (SNB)
monetary policy announcement, Chairman Jordan said that there is strong appreciation pressure on the franc during times of uncertainty while speaking at the post-policy press conference.
The SNB board member Andrea Maechler also commented on the exchange rate value, citing that it remains highly valued.
Further comments
“A stronger appreciation would have placed an additional burden on the economy.”
“Trade-weighted franc is 1.5% stronger than in June.”
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12/17/2020 9:59:00 AM GMT | By Haresh Menghani
The Swiss Nation Bank (SNB) Chairman, Thomas Jordan added to his earlier comments and clarified that the US report has no impact on our monetary policy. SNB nor Switzerland is a currency manipulator. We are in constructive dialogue with our friends in the US on currency manipulation matter. Expansionary policy is the only way to maintain price stability, Jordan added further.
Meanwhile, the bearish pressure surrounding the USD/CHF pair remained unabated, with bears pushing it to fresh multi-year lows and might now be eyeing to challenge the 0.8800 mark. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before mak