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Following the Swiss Nation Bank (SNB) monetary policy announcement, Chairman Jordan said that there is strong appreciation pressure on the franc during times of uncertainty while speaking at the post-policy press conference.

The SNB board member Andrea Maechler also commented on the exchange rate value, citing that it remains highly valued.

Further comments

“Had we not intervened; the franc would have appreciated significantly more.”

“A stronger appreciation would have placed an additional burden on the economy.”

“Trade-weighted franc is 1.5% stronger than in June.”

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