Forex News

The Swiss franc gained versus several key-currencies today despite the nation’s central bank concerns regarding the strength of its currency, which already was expressed previously in statements mentioning eventual future interventions to halt the franc’s rally.

Even if the Swiss National Bank President Philipp Hildebrand stated last week that franc’s fluctuations will be monitored closely, expressing concern with the Swiss currency high rates, the franc advanced today versus the euro as traders feel it is still undervalued versus the European single currency. According to analysts, the SNB will impose more than verbal interventions anytime soon as long as the franc continues bullish.

EUR/CHF traded at 1.4740 as of 21:31 GMT from an opening rate of 1.4753 yesterday.

If you want to comment on the Swiss franc’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Swiss Franc:

• Swiss Franc May Decline On SNB Interventions (2010-01-12)
• Swiss Franc Retreats After Central Bank Statement (2010-01-11)
• Swiss Franc Hits 9-Month High Versus Euro (2009-12-18)
• Swiss Franc Down on Central Bank Speculations (2009-11-26)
• Swiss Franc Drops on Financial Regulations (2009-11-19)

This entry was posted on Monday, January 18th, 2010 at 11:32 pm and is filed under Swiss Franc. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.