Comments from the SNB deputy
- Franc value has been driven more by views of global monetary policy development rather than events
- Franc remains sought as a safe haven currency
The SNB has been claiming the franc is overvalued for a decade and even negative rates have done nothing to reverse it. At some point, you need a new explanation.
If the franc is overvalued, let people borrow in it and invest elsewhere. At some point the market will correct. Instead they manipulate and jawbone endlessly, destroying their credibility over time.