SNB’s Zurbruegg: Franc is highly valued at current level

Swiss National Bank (SNB) Vice-Chairman Fritz Zurbruegg reiterated on Wednesday that the Swiss franc is highly valued at its current exchange level, as reported by Reuters.

Zurbruegg added that he thinks that the inflation rise is temporary and noted that they will keep the balance sheet as high as necessary.

Market reaction

These remarks don't seem to be having a significant impact on the CHF's performance against its major rivals. As of writing, the USD/CHF pair was trading at 0.9205, where it was up 0.12% on a daily basis.