Swiss Get Currency Relief After Draghi Disappoints Investors
- Swiss policy makers have said franc remains overvalued
- Franc falls as much as 1.2% vs euro, biggest move since June
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Swiss National Bank President Thomas Jordan may be breathing a sigh of relief after the European Central Bank’s new round of stimulus fell short of expectations.
The franc weakened as much as 1.2 percent against the euro, the most in six months, after the ECB cut its deposit rate in line with forecasts, but didn’t expand its monthly asset purchases. There was a risk that a large stimulus could have pushed up the franc, which SNB officials have already said is overvalued.