EUR/CHF level unjustified - BTMU

FXStreet (Guatemala) - Analysts at The Bank of Tokyo-Mitsubishi UFJ, Ltd explained that the weakness of the euro and strength of the Swiss franc has drawn some concern from SNB Vice President Danthine who described the current EUR/CHF level as “not justified”.

Key Quotes:

"In his view the foreign exchange market is not yet “stabilized” following the removal of their EUR/CHF floor."

"He also reiterated that the SNB “remains ready to intervene on foreign exchange markets”.