Swiss Franc Mildly Lower after SNB

11 March 2010 @ 05:40 pm EDT

Swiss Franc is mildly lower after SNB left three-month Libor target unchanged at 0.25 and reiterated its stance to"prevent excessive appreciation of the Swiss franc against the euro," which would "result in an undesired tightening of monetary conditions." Reactions to the announcement is mild so far. EUR/CHF spikes higher to 1.4628 after the release but was limited below 1.4635 minor resistance. We'd expect EUR/CHF to continue to craw low as dusts settle.

Copyright 2009 ActionForex, All rights reserved.

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