19 Jun 2014
SNB paying close attention to ECB - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted the conditions surrounding EUR/CHF.
Key Quotes:
"Swiss National Bank met and left policy unchanged, as expected. SNB head Jordan stated that the bank will continue the current policy for the foreseeable future."
"He also repeated that they do not rule out implementing negative rates, of course, noting that they are closely watching the potential impact of the ECB’s decision, as well as the more complex geopolitical risk outlook. For now, the EUR/CHF floor at 1.20 is not being tested but officials are clearly watching for any impact from the ECB’s recent moves."
Key Quotes:
"Swiss National Bank met and left policy unchanged, as expected. SNB head Jordan stated that the bank will continue the current policy for the foreseeable future."
"He also repeated that they do not rule out implementing negative rates, of course, noting that they are closely watching the potential impact of the ECB’s decision, as well as the more complex geopolitical risk outlook. For now, the EUR/CHF floor at 1.20 is not being tested but officials are clearly watching for any impact from the ECB’s recent moves."