June 20, 2013 / 8:09 AM / 4 years ago

SNB's Jordan says Swiss franc should weaken in coming quarters

BERNE, June 20 (Reuters) - The Swiss National Bank expects the Swiss franc to weaken further in coming quarters, chairman Thomas Jordan said after the central bank's rate-setting session on Thursday.

"Overall, the value of the Swiss franc remains high and should fall further over the next few quarters," Jordan said in prepared remarks.

Though the franc weakened against the euro last month as fears over a worsening of the euro zone crisis faded and is expected to fall further, the SNB stressed the currency remains overvalued after its monetary policy meeting.

Reporting By Alice Baghdjian, editing by Emma Thomasson

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