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The Swiss franc is skyrocketing against both the euro and the USD today, after the Swiss National Bank left its benchmark interest rate unchanged at 0.25%, as expected. The kicker came when central bank President Philipp Hildebrand said that rates would not be able to remain near zero levels if the global economy continues to recover. He also warned that the SNB would act to weaken the Swiss franc if deflation risks reemerged. EUR/CHF last traded lower by 125 pips at 1.3799 after hitting an intraday low of 1.3759. There is support at 1.3734 the all time low from June 9.
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