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Swiss Franc Mixed After SNB Refrains from Lowering Rates Further

March 17, 2016 at 9:34 by Vladimir Vyun

Swiss franc banknotes - 20Quite a few central banks scheduled their policy for the current trading session, and the Swiss National Bank was among them. The bank refrained from changing its monetary policy. The Swiss franc was mixed after the announcement, rising against the US dollar but falling versus the euro.

The SNB left its interest rates stable, refraining from lowering them deeper into the negative territory. The central bank signaled that it is still unhappy with the strength of the currency, saying:

The Swiss franc is still significantly overvalued.

As a result, the SNB showed “willingness to intervene in the foreign exchange market.”

USD/CHF dropped from 0.9779 to 0.9723 as of 9:30 GMT today. EUR/CHF ticked up from 1.0964 to 1.0974, peaking at 1.0993 intraday.

If you have any questions, comments, or opinions regarding the Swiss Franc, feel free to post them using the commentary form below.

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