Swiss franc still ‘significantly overvalued' – Jordan

The SNB's Thomas Jordan

The Swiss franc remains "significantly overvalued" despite both the euro and US dollar regaining ground, Swiss National Bank (SNB) governing board chairman Thomas Jordan said on May 2.

After the SNB removed its currency floor, it introduced a negative interest rate and stressed its willingness to intervene in the foreign exchange rate market in an attempt to "cushion" the impact, Jordan told an audience in Zurich.

The central bank's measures are "helping to stabilise price developments and

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