EUR/CHF spiked on comments from SNB alternate Thomas Moser in the The Wall Street Journal.
“We have always said this is a possibility,” Mr. Moser said in brief remarks to The Wall Street Journal after a panel discussion at an academic conference here. “We’re never shy about it…we always said we would use it if needed,” he said.
Mr. Moser added that he couldn’t say whether the SNB would announce this at its coming meeting on Sept. 18, or at a later date.
There’s nothing really new here and these comments are more vague than the headlines suggest. SNB President Jordan has consistently said that no measures are excluded. I think there is a good argument for buying EUR/CHF but these headlines aren’t anything spectacular.
Earlier I wrote about 4 reasons why the case For SNB action is compelling.
