Forex News

The appeal for the stock markets declined and the low-yielding assets became more attractive, boosting the demand for the Swiss franc against the Euro for a second day, today.

The Europe’s currencies posted a daily drop against the U.S. dollar after showing a moderate volatility during the early trading session after the regional central banks cut the interest rates at an unexpectedly large scale.

The Swiss National Bank decided to keep the country’s main interest rate at its 6-year highest value facing the risks of both a higher inflation rate and a slower economic growth.

The Japanese yen declined today from its recent high values against the U.S. dollar, pound and euro as the global stock markets gained and the high-yielding assets looked more attractive than on the last week.

Swiss National Bank chose to keep the national three-month Libor (interest rate) unchanged at 2.75% after it was increased by 0.25% back in September 2007. After this announcement Swiss franc gained a little against all other major currencies except the Japanese yen.