Currency strategists at UBS note that the Swiss National Bank is emphasizing its concerns about franc’s strengthening versus the European currency, so its priority is keeping the national currency from excessive appreciation.

The specialists think that it’s very unlikely that the Switzerland’s central bank raises interest rates despite the fact that the country’s economy was outperforming the euro zone’s one during and after the financial crisis. The SNB won’t tighten its policy even in case of an upward revision of its economic growth outlook.

Swiss franc rose this week from Monday’s low at 1.3203 to 1.2900 today.



Chart. H4 EUR/CHF

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