USD/CHF Keeps Declining, Despite the SNB Being Ready to Intervene - Forex News by FX Leaders
Markets are ignoring SNB's Jordan today

USD/CHF Keeps Declining, Despite the SNB Being Ready to Intervene

Posted Wednesday, November 13, 2019 by
Skerdian Meta • 1 min read

The Swiss National Bank has been on the edge of intervening in the currency market as bids for safe havens increase on global uncertainty. Although, in recent months, safe havens have seen some relief as the sentiment has improved after the US-China partial trade deal,which is not yet officially signed, and the Brexit deal.

Although, this week the CHF has turned bullish again and USD/CHF has been declining. The SNB chief, Thomas Jordan, made a few comments on the stronger CHF, se here are his remarks:

  • Swiss franc remains highly valued
  • Foreign exchange market remains fragile
  • Negative rates, readiness for intervention still necessary
  • Danger of a worsening international situation remains large
  • Imbalances in Swiss real estate market still persists

Yes, we know the CHF is highly valued and the SNB is ready to intervene, but that has been the case forever. So, the CHF didn’t mind too much. Unless Jordan announces an intervention, markets are going to ignore such comments because we have gotten used to them.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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