SNBs Jordan:Current monetary policy is not sufficient least restrictive to lower inflation

<p>Swiss National Bank's Jordan is speaking saying:</p><ul><li>S&P prepared to take all measures necessary to bring inflation back into the territorial price stability</li><li>current monetary policy is not sufficiently restrictive enough to bring inflation back to the range of price stability over the medium-term</li><li>we are clearly above the range of price stability</li><li>we have to take action to bring inflation rate down</li></ul><p>The USDCHF is trading to new session lows (higher CHF), and testing a swing area on the daily chart between 0.9453 and 0.9479 after the touch comments on inflation. A move below 0.9453 would increase the bears hold on the technical bias. It would probably take a move back above 0.9493-0.9500 to shake the bears hold a bit. </p><p>Looking at the EURCHF on the daily chart, the pair is moving back below its 100 day MA at 0.9768. </p>

This article was written by Greg Michalowski at forexlive.com.