Franc stays overvalued as Europe still makes the SNB currency cap necessary

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Source: Bloomberg
Governing Board member of Swiss National Bank Fritz Zurbruegg indicated that the Franc is too strong and uncertainty concerning Europe still makes the SNB currency cap necessary. Although the currency dropped 1.6% versus the shared currency this year, it's still 11% stronger than the average of five years and 27% higher than on October 2007 (1.6828). The Franc slid 0.3% to 1.22923 against the Euro and stood at 91.75 centimes against the greenback.
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