SNB Board member Andrea Maechler said yesterday that “we are still in a territory where the Swiss franc is high.” “The reality is, we continue to have a safe-haven currency,” she said. “Uncertainties remain high, largely because of the COVID crisis which continues to be there.”
“You’ve seen recently there has been quite an appreciation of the Swiss franc,” Maechler said. “Now if you look at the real exchange rate, it’s still higher than 2015. It is something that we do continue to monitor, and we will continue to do so.”
Maechler reiterated that it’s necessary for the central bank to intervene in the markets.
