17 Feb 2015
USD/CHF revisits daily highs after Jordan comments
FXStreet (Córdoba) - USD/CHF pushed higher and retested daily highs as the franc weakened following SNB Chairman saying the currency is still overvalued.
Speaking at the Université libre de Bruxelles, Thomas Jordan said the SNB will continue to take the exchange rate situation into consideration when formulating its monetary policy. “It will therefore remain active in the foreign exchange market, should this prove necessary in order to influence monetary conditions”.
USD/CHF stretched to a high of 0.9363, but failed to break above its post-SNB highs scored during the European session and pulled back. At time of writing, the pair is trading at 0.9345, 0.35% above its opening price, having recovered from a low of 0.9290.
Speaking at the Université libre de Bruxelles, Thomas Jordan said the SNB will continue to take the exchange rate situation into consideration when formulating its monetary policy. “It will therefore remain active in the foreign exchange market, should this prove necessary in order to influence monetary conditions”.
USD/CHF stretched to a high of 0.9363, but failed to break above its post-SNB highs scored during the European session and pulled back. At time of writing, the pair is trading at 0.9345, 0.35% above its opening price, having recovered from a low of 0.9290.