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Swissy Gains As SNB Warns On Inflation

CHF

EUR/CHF pulls lower as it backs away from session highs to trade flat on the day around the CHF0.9720 mark (lows of CHF0.9711 were registered). The driver of the move comes as SNB President Jordan notes that inflation is more persistent than the central bank previously believed, with second- and third-round effects noted. Jordan also noted that Swiss interest rates are relatively low, so it doesn’t make sense to wait, per BBG headlines, which presents hawkish risks on the SNB policy front.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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