The Swiss franc dropped to a 10-day trough versus the euro Thursday, following Swiss National Bank Governing Board Chair Thomas Jordan said the currency was overvalued and the central bank would continue to intercede in currency markets.
Negotiations between Greece and its lenders ended without an agreement. The Greek government has until Saturday to submit new economic reform proposals in order to unlock the €7.2 billion in bailout aid.
The franc closed at 1.05465 per euro and 0.9416 per US dollar.
Swiss will always try and pull the currency down. “But even if it’s not a specific policy with a specific rate, they will jawbone,” according to a London-based currency trader.
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