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"The SNB has achieved a lot of success"
- Marc Chandler, chief currency strategist at Brown Brothers Harriman & Co.
The Swiss National Bank remains under pressure from politicians and business owners to further weaken the country's national currency amid strong demand for a haven.
"Obviously, they're under enormous pressure," said Peter Rosenstreich, chief currency analyst at Swissquote Bank SA in Geneva. "Their verbal intervention has really convinced the market that the next move is going to be higher and that's enormously effective without costing them anything. They'll continue to use a very hawkish tone."
"The SNB has achieved a lot of success," Marc Chandler, chief currency strategist at Brown Brothers Harriman & Co. in New York, said. "They are using strategic ambiguity now. They are keeping the market guessing about a potential higher ceiling and that's doing the heavy lifting for them."