Swiss National Bank vice-president speaking to Corriere del Ticino
- willingness to intervene in markets is second pillar of SNB policy
- if SNB had delayed giving up its cap on the franc at 1.20 v euro it would increased the cost to the economy
- China and terrorist attacks could damage confidence
More of the same mantra from everyone's fave central bank who continue to keep a firm hand on USDCHF and EURCHF.
Currently 1.0170 and 1.1069 with the latter now posting its highest levels since the cap was removed.
I have been bullish on this pair for a while now as regular readers will know and I remain a dip buyer into 1.0830-50.
