SNB President Roth says he has yet to see an overshooting of the Swiss franc. We should not become nervous, he says, saying we have to monitor the situation now. Interest rates in Switzerland will remain low for a relatively long period. Swiss franc appreciation has bee painful for exporters so the SNB is watching carefully. We are always ready for any situation, he concludes, via Bloomberg.

Sounds like lots of watchful waiting from the SNB. Just don’t push too far.

EUR/CHF trades at 1.4980, up from 1.4932 lows after the poor US housing data.