SNB's Maechler: Franc is still "significantly overvalued"

Political uncertainty dominates at the moment, SNB Governing Board member Andrea Maechler said on Thursday during her speech in Zurich. 

Key quotes (via Reuters)

• Swiss economic recovery not yet broad-based
• SNB is looking at ways to diversify the vast foreign currency assets it built up during its campaign to rein in the highly valued Swiss franc
• Although an expanding balance sheet does not make the process of diversification any easier, we will not be curtailing our efforts on this front
• Political uncertainty dominates at present, notably with respect to the future course of economic policy in the U.S., various elections in Europe, and the complex Brexit negotiations
• The bank's monetary policy had supported moderate economic growth
• Having said this, the momentum we are seeing is not yet broad-based