A senior Swiss National Bank official says the bank is examining further measures to soften the Swiss franc’s “massive overvaluation” against the U.S. dollar and the euro, The Associated Press reports.
The franc dropped sharply against both currencies Thursday, a day after the SNB announced it was increasing liquidity and conducting foreign exchange swap transactions.
The euro was up 4.3 percent at 1.0744 francs by mid-afternoon, while the dollar rose 3.8 percent to 0.7548 francs.
SNB Vice-President Thomas Jordan told Zurich daily Tages-Anzeiger that “in principle we can take all measures that in the long term are compatible with our mandate” of pursuing an independent monetary policy.
He skirted saying explicitly whether this includes temporarily pegging the franc to the euro.
