The pressser with the SNB head Thomas Jordan
- Higher short-term inflation forecast due to increased oil prices and weakening franc
- SF is still highly valued
- Willingness to intervene in FX market remains important
- Long-tern inflationary pressure in Switzerland has not increased
- Expansive mon pol remains appropriate to support trecovery and price stability
SNB’s Maechler
- Situation in FX market remains fragileRisk of renewed franc apprecitaion remains, particularly if risk aversion returns
- Investors are prepared to pay a higher premium to hedge against franc appreciation rather than depreciation
Nothing we haven’t already heard before. EURCHF remains modestly bid and now at a 1.1682 high. USDCHF 0.9880. The 0.9880/90 area had been pretty good support recently so expect some decent resistance here.
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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