SNB’s Jordan on the wires

  • Will continue to enforce cap with utmost determination
  • Franc is still high, downside risk for economy remain substantial
  • No threat of inflation or deflation in foreseeable future

EUR/CHF back above 1.2300 following the break below late yesterday.

With regards to the headline, the right wing Peoples party in Switzerland has gathered signatures to force a referendum on banning the SNB from selling it’s gold reserves. You can read about it further here.