Intervened at the time.
- Any doubts on SNB resolve to defend franc cap misplaced
- SNB has no plans to change monitoring system of EUR/CHF
- SNB cannot exclude euro being offered below CHF 1.2000 in future
- To enforce minimum rate with all means at its disposal
- Ready to buy foreign exchange in unlimited quantities
- Policy unchanged after franc rises above CHF 1.2000
- Some EUR/CHF transactions occurred below CHF 1.2000 on Thursday
- At no time did ‘best available rate’ fall below 1.2000
- SNB credibility hasn’t suffered from breach of the floor
- Banks may breach CHF 1.2000/euro, but not in ‘relevant market’
- SNB cannot completely control global CHF currency market
- SNB franc cap breach was in ‘segmented fx market’
- Swiss franc still ‘overvalued’
- Franc poses substantial challenges for Swiss economy
- Confirms SNB ‘active’ in currency market Thursday
Dow Jones reporting.
EUR/CHF trading at session high 1.2030. Whoopeeee