The Swiss National Bank’s (SNB) Vice-Chairman, Fritz Zurbruegg, crossed the wires in the last minutes reiterating that negative rates and their readiness to intervene in the FX market were key tools to reduce the attractiveness of the Swiss franc.
“Inflation in Switzerland remains subdued. We have seen some nervousness and pressure on the Swiss franc,” Zurbruegg said. “We are sticking to expansionary monetary policy.”
The USD/CHF pair doesn’t seem to be paying much attention to these comments and was last seen posting small daily gains at 0.9880.
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