SNB's Thomas Jordan comments released now but from a conference speech on the 1st
- CHF now not equally strongly overvalued compared to 2011 and against all important currencies
- Along with a willingness to intervene, negative rates are an important and indispensable monetary policy instrument to weaken CHF
The swissy is still a long long way from pre-2011 levels. Considering he's bantered on about how much it's overvalued the swissy is, using the comparison against 2011 is a strange one to make.
