SNB Jordan: The situation in the forex market is still fragile

Author: Greg Michalowski | Category: Central Banks

Speaks in interview with SRF radio

The story does not change but the SNB is reiterating that:
  • The situation in the FX market is still fragile
  • reiterates pledge to intervene if needed
  • Appropriate to leave policy unchanged as he sees no signs of overheating. 
  • US Fed is doing everything right; central banks should not prevent political pressure
Looking at  the daily chart of the EURCHF, the pair is trading above and below the 100 day MA at 1.1463, and has been over the last two days.  The highs has stalled against the 38.2% retracement of the 2018 high to low trading range at 1.14957.

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