SNB’s Roth sends EUR/CHF soaring
SNB president Roth says that FX intervention is the strongest instrument to ease monetary conditions and avoid deflation. He says the SNB has to fight franc appreciation with all means. They will stick with the policy as long as deflation risks persist, he says.
EUR/CHF jumped to 1.5110 on the comments and now trade at 1.5095. The market would like to hear less talk and see more action. The SNB has been pretty quiet in the markets since their big splash last month.