SNB Maechler
SNBs Maechler is on the wires saying:
- Ready to intervene in FX market if needed
- FX reserves a result of monetary policy
Recall on January 15, the US treasury put Switzerland on the watchlist as a curency manipulator.
The CHF got stronger off the news. However, the USDCHF bottomed on the 16th and started to move back higher.
The EURCHF also moved lower and bottomed on January 17 and moved to the highest level since January 14 today. However, the price has tumbled back lower in the London/ NY session and is back testing its 100 hour MA at 1.07428. The high for the day reached 1.0787.
