The SNB is concerned about the current strength of the Swiss Franc. The central bankers assume that the national currency remains overvalued, which is a burden for the Swiss economy as a strong national currency always affect exporters.
The reasons for the strength are still the same that we could see over a year ago and that forced the Swiss national Bank to defend the 1.2000 level in the market of EURCHF.
As we know, the SNB likes intervening in the currency market to fight deflation and is determined to keep doing that in the near future.
The chart below, courtesy of , reflects the current state of affairs in the market of USDCHF. The Swiss Franc keeps strengthening against the US Dollar.
