The Swiss franc fell today after Swiss National Bank President Thomas Jordan yet again reminded about necessity to keep the currency ceiling as a measure to protect the economy.
Jordan said yesterday:
The cap was set at a level at which the franc was still highly valued. Today the franc is still a highly valued currency. The cap remains an indispensable tool of our monetary policy to limit downside risks.
He also explained that the central bank does not change monetary policy in response to short-term economical fluctuations.
USD/CHF rose from 0.9107 to 0.9121 as of 13:14 GMT today. CHF/JPY retreated from 108.47 to 108.20 after rising to 108.91 earlier.
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