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Free AccessEUR/CHF Touches New Daily Highs as Jordan Zeroes in on CHF Strength
- In an appearance from Davos, SNB President Jordan talks through the strength of the CHF currency, stating that the CHF is now stronger, and that needs to be taken into account. He adds that the CHF is now appreciating in real terms, and that appreciation pushes down Swiss inflation.
- CHF moderates in response, helping EUR/CHF to new daily highs at 0.9389 and USD/CHF to 0.8637. The focus on FX here is inline with the communications shift on FX from December, at which the SNB omitted the mention of the bias for FX sales, but this seems an upgrade in the assessment of the currency strength, from:
- December: "Swiss Franc appreciation is not so large in real terms"
- Today: "Swiss Franc is now appreciating in real terms, Franc is now stronger, need to take that into account".
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.