The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1480 level and was supported around the CHF 1.1310 level. Swiss National Bank President Roth yesterday said With the exception of the financial sector, our economy enters the downturn in top-shape. That's why we are predicting a relatively mild recession at the moment. The central bank last week indicated the economy will contract between 0.5% and 1.0% in 2009. U.S. dollar offers are cited around the CHF 1.1550 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4760 level while the British pound came off vis-à-vis the Swiss franc and tested bids around the CHF 1.5855 level.
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