Tomas Jordan has recently been appointed new President of the SNB.
It should be noted that Mr. Jordan became interim president in January shortly after his predecessor Philipp Hildebrand had to step down because of a controversial currency transaction involving his wife.
The SNB seems to be learning a lesson from the recent scandals. The bank has toughened the regulations for the private currency transactions implemented by the SNB personnel. A special unit was created to control the situation.
Forex.
In the meantime, the Swiss Franc keeps recovering against the US Dollar. According to , USDCHF is in the process of forming an upswing – wave А/В of wave level Daily2 or higher. A break above 0.9247 will resume the bullish wave А/В. The closest levels of resistance are 0.9293, 0.9309 and 0.9332. A break below 0.9124 will initiate a downswing - wave А/В of a bigger-scale wave level. The Mf pivot 0.9090 is the closest major level of support.
