FXStreet (Edinburgh) – Fritz Zurbruegg, Vice President of the SNB, has once again reiterated that the Swiss franc remains ‘considerably overvalued’ and the central bank could incur in FX intervention in order to curb CHF strength.
In addition, he argued that despite the strong currency the Alpine economy is highly competitive, defending at the same time the decision by the SNB to remove the cap vs. the euro (January 2015).
CHF keeps the bearish tone today, trading around 1.0940 vs. EUR and in the 1.0100 neighbourhood against the US dollar.
(Market News Provided by FXstreet)