SNB’s Schlegel: We raise readiness to intervene against Swiss Franc’s appreciation
Swiss National Bank (SNB) Chairman Martin Schlegel said during the European trading session on Tuesday that the central bank is now more ready to intervene against one-way appreciating moves in the Swiss Franc (CHF).
Remarks
Real over-valuation of the Swiss Franc clearly lower than nominal over valuation.
Central bank has raised readiness to intervene to deal with overvaluation pressure due to Middle East escalation.
Market reaction
The Swiss Franc has responded slightly positively to SNB Schlegel's comments. At press time, USD/CHF trades 0.2% lower to near 0.7850.
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