SNB: CHF remains “still highly valued" - UOB

Analysts at UOB Group explained that after its annual meeting with the Swiss National Bank (SNB), the Swiss government reiterated the SNB’s key message that the CHF remains “still highly valued”.

Key Quotes:

"Previously, the CHF was characterized as “significantly overvalued”. However, after renewed strength in the EUR against the CHF since the start of the year, the SNB in mid-September dropped its “significantly overvalued” tag on the CHF and now calls the CHF “highly valued”. EUR/CHF had climbed from just under 1.07 at the start of the year, to 1.1650 now, recovering most of its losses since Jan 2015, when the SNB let go of the EUR/CHF floor at 1.20."