SNB Jordan: Can't exclude more interest-rate increases, ready to be active in FX markets

Ross J Burland FXStreet

Swiss National Bank Chairman Thomas Jordan is crossing the wires and has stated the following:

Key comments

Price stability does not happen automatically.
We are seeing no wage-price spiral in Switzerland.
Inflationary pressure stronger than SNB can tolerate, can't exclude more interest-rate increases.
A strong swiss job market could affect a firm's cost inflation.
In 2022 second-round effects rose, and inflation spread.
Ready to be active in currency markets when necessary.

USD/CHF technical analysis

On the following daily chart,m we can see that the price is moving lower with a descending channel:

Zoomed in ...

The M-formation is pulling the bulls in from support with a focus on the 50% mean reversion target as the top of the channel resistance and neckline of the pattern near 0.9170.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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