The Swiss franc fell below the historically important level of 1.20 versus the euro as the risk appetite drove investors away from safe currencies. Still, Swiss National Bank Chairman Thomas Jordan saw no reason to abandon the extremely loose monetary policy.
The Swiss franc slipped today after the nation’s central bank kept monetary policy unchanged and showed not intention to tighten its unconventional accommodative policy.
The Forex market was largely driven by central banks’ meeting during the past trading week. Yet the Canadian dollar had its own bullish factor that allowed it to ignore other news for the most part and to become the strongest major currency by the weekend (though other commodity currencies were strong as well).
The Swiss franc was mixed after today’s policy announcement from the Swiss National Bank and the release of the Producer Price Index. The currency gained on the euro and the Japanese yen but fell versus the US dollar and the Great Britain pound.
The Swiss franc gained on the US dollar during the current trading session. The Swissie fell against the euro, but its daily high was near the highest level since the Brexit announcement.
Federal Reserve monetary policy announcement was the most important event this week (though several other central banks made their policy decisions as well). While an interest rate hike was expected, the actual event still managed to surprise markets, sending the US dollar higher against its most-traded counterparts.
The Swiss franc fell today as policy makers of the Swiss National Bank were defending the current negative interest rates and signaled that monetary easing has not yet reached its limit.
The Swiss franc gained on some of its most-trade counterparts, including the US dollar, the euro, and the Great Britain pound, following today’s monetary policy meeting of the Swiss National Bank.
The Swiss franc traded flat-to-lower during today’s session even though Switzerland’s economic growth accelerated while deflation slowed.
The Swiss franc fell against the US dollar and was little changed versus the euro after the Swiss National Bank left its monetary policy unchanged.
