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SNB's Jordan: Franc is highly valued, SNB has scope to cut rates further

The coronavirus has been a factor in Swiss franc's recent appreciation and the currency remains highly valued, Swiss National Bank Chairman Thomas Jordan told the Frankfurter Allgemeine Zeitung in an interview and added that the bank has scope to cut rates further.

"Overall risks have not reduced, therefore the current monetary policy is correct," Jordan said, per Reuters, and noted that they are sticking with negative interest rates and currency interventions if needed. 

USD/CHF reaction

The USD/CHF pair largely ignored these comments and was last seen trading at 0.9693, adding 0.37% on a daily basis.

WTI erases large portion of early gains, trades below mid-$50s

The barrel of West Texas Intermediate staged a decisive rebound on Tuesday after slumping to its lowest level in more than a year at $49.64. Eyes on O
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S&P500 Price Analysis: Index recovers to 3300 resistance, Wall Street risk-on

The S&P500 Index is trading in a bull trend above the main daily simple moving averages (SMAs).
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