SNB’s Jordan: Current policy approach is the right one

Swiss National Bank (SNB) Chairman Thomas Jordan is out on the wires, reiterating his previous comments, while making a speech on a panel at an event in Bali.

Key Quotes:

SNB will always weigh costs/benefits of intervention

Balance sheet is big but there's still room for intervention

Swiss franc still overvalued

Current policy approach is the right one

Meanwhile, USD/CHF remains better bid and flirts with 0.97 handle, with the Swiss franc little affected by SNB Chief Jordan’s comments.