SNB’s Zurbruegg interview moving the CHF

By: Eamonn Sheridan

There is an interview to be published in a Monday Swiss newspaper with the SNB's Zurbruegg: Swiss National Bank Governing Board member Fritz Zurbruegg said the franc remains too strong and uncertainty about Europe still makes the central bank’s currency cap necessary, according to Aargauer Zeitung. “The Swiss franc is overvalued even at today’s exchange rate against the euro,” Zurbruegg was cited as saying in an interview that will be published in tomorrow’s issue. “The minimum exchange rate remains the appropriate instrument for the foreseeable future to ensure price stability.” Bloomberg