Swiss National Bank President Thomas Jordanmade statements:
main comments
- Price stability does not happen automatically.
- We do not see a spiral of prices and wages in Switzerland.
- Inflationary pressure is stronger than the SNB can tolerate, further interest rate hikes cannot be ruled out.
- A strong Swiss labor market could affect a company’s cost inflation.
- In 2022, second-round effects increased and inflation spread.
- Prepared to act in the currency markets when necessary.
USD/CHF Technical Analysis
In the following daily chart,m we can see that the price is moving lower with a descending channel:
Extension …
The M formation is attracting bulls from support with focus on the 50% mean reversion target as the top of channel resistance and the neckline of the pattern near 0.9170.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
