Swiss Franc Strong Even as SNB Maintains Ceiling
The Swiss franc jumped today even after the Swiss National Bank maintained the cap on the currency and signaled that the exchange rate is still high.
The SNB left interest rates near zero and the ceiling at 1.20 francs per euro today. The central bank said that the currency “is still high”. The bank also revised its inflation projections to -0.2 percent for 2013 and 0.2 percent for 2014, down from -0.1 for this year and 0.4 percent for the next year in the previous assessment.
USD/CHF dropped from 0.9522 to 0.9458 after rising to 0.9565 and EUR/CHF declined from 1.2342 to 1.2320 as of 17:01 GMT today.
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Earlier News About the Swiss Franc:
- Signs of Economic Growth Make Traders Part with Franc (2013-03-06)
- Franc Mixed as Swiss Economy Expands (2013-02-28)
- Franc Rises Despite Wishes of Swiss Policy Makers (2013-02-12)
- Swiss Franc Rises Even as Politicians Say It Should Be Weakened (2013-01-28)
- Franc Drops as Demand for Safety Wanes (2013-01-17)