Our cup runneth over.
- SNB has means to fight excessive franc rise
- Can buy very large quantities of foreign currency
- Franc rise excessive if it leads to materialisation of deflation risks. SNB position clear; it will not allow materialisation of deflation risks
- Performance of swiss economy, not fx level, sign of intervention success
Yada, yada, yada…….
EUR/CHF sits at 1.4345, where it closed out Monday in North America.
