Swiss franc is mixed today, higher against the euro, and lower against the US dollar and the Great Britain Pound. Even so, the recent economic forum at Davos has expressed confidence in the Swissie’s cap against the euro, and the ability of the franc to pull back against the 17-nation currency as needed.
The recent meeting in Switzerland served as a way to signal confidence in the Swiss National Bank. Even though the SNB is without a director since the resignation of Philipp Hildebrand, there is still a great deal of confidence in the central bank and its abilities.
Right now, most of those abilities have to do with the idea that the Swissie wants to remain weak in order to keep its economy in a better position. The SNB has taken a number of measures over the past year to ensure that the franc does not appreciate too rapidly. Some of these measures have included direct intervention, as well as creating a peg to the euro to ensure that the franc never rises too rapidly against the euro.
That seems to be working, even though the franc is higher right now. However, the slight preference for risk right now is working to send the franc lower, as seen by its performances against the pound and the dollar.
At 15:46 GMT EUR/CHF is lower at 1.2042, down from the open at 1.2054. USD/CHF is higher at 0.9198, up from the open at 0.9171. GBP/CHF is up to 1.4490 from the open at 1.4408.
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