The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 0.9990 level and was supported around the CHF 0.9880 level. Technically, today’s intraday high was right around the 23.6% retracement of the move from CHF 1.1105 to CHF 0.9645. Swiss National Bank injected liquidity today to try and reduce interbank funding pressures. SNB offered a three-month repo at 2.2% and reduced the rate on one-week repos to 2.05% from 2.2%. U.S. dollar offers are cited around the CHF 1.0375 level. The euro and British pound appreciated vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.5720 and CHF 2.0090 levels, respectively.