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The Swiss Central Bank is Ready to Act as They Deem Swiss Franc Overvalued

“Swiss central bank Vice President Thomas Jordan said the franc remains “overvalued” and policy makers are ready to take further measures if needed.

“The minimum exchange-rate is a measure that was taken in a crisis where there was no other possibility to curb the franc’s appreciation,” Jordan said at a conference today in Lucerne, Switzerland. “We’ve always said that it’s a minimum exchange-rate and not an exchange-rate target versus the euro. At the moment, the franc remains highly valued, overvalued, and should depreciate again over time.”

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