SNB’s Jordan feels the Swiss economy could turn positive in 2010. Says the bank is buying covered bonds on the secondary market and he doesn’t want the swiss franc to strengthen against the euro. Jordan says he sees no credit squeeze in Switzerland.
EUR/CHF is presently trading up at 1.5080 having opened in Europe down around 1.5050. Once again solid support for the cross resurfaced on the earlier move below 1.5050. One has to wonder how long this can go on for. Seems like a license to print money to me.
