SNB's Jordan: Franc has weakened but remains highly valued
|Swiss National Bank (SNB) Chairman Thomas Jordan reiterated on Friday that negative interest rates in the current situation, as well as readiness to intervene in forex markets, remain essential, as reported by Reuters.
Additional takeaways
"Monetary policy is in the interest of all the country not for particular sections, current policy necessary."
"Swiss franc has weakened but remains highly valued."
"Cryptocurrencies are not liquid enough for the bank to have as one of its investment assets."
"No advantage from setting up a sovereign fund with its assets."
"Sovereign wealth fund would lead to a conflict of interest with monetary policy."
Market reaction
The USD/CHF pair showed no immediate reaction to these comments and was last seen trading at 0.9090, where it was up 0.06% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.