Swiss National Bank President Thomas Jordan said the franc remains strong, in comments to Sonntag.
“We have seen some easing in the financial markets — the pressure on the franc has weakened,” he said. “But at the current level it is still highly valued… We can’t exclude that in these uncertain times we experience setbacks.”
Jordan also said the SNB has no plans to buy or sell gold. He raised concerns about real estate saying there is a risk of a bubble.
EUR/CHF closed the week at 1.2414, which was the lowest daily close since May 9. I don’t see anything in his comments that would spark a move at the open but if anything, the pair could rise slightly higher.
EUR/CHF daily
