Swiss National Bank (SNB) Chairman, Thomas Jordan was out with some comments in the last hour, saying that the unprecedented expansion in the monetary base in recent years does not pose a particular threat to the stability of the Swiss franc’s value. Supply of money can be reversed at any time should the demand for the safe-haven currency weaken, thus ensuring that the currency retains its value, Jordan added further.
The comments seemed to have prompted some selling around the Swiss franc, pushing the USD/CHF pair to fresh daily tops, around the 0.9175-80 region in the last hour.
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