The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1580 level and was capped around the CHF 1.1780 level. Data released in Switzerland today saw January headline consumer price inflation fall 0.1% while core inflation was up 1.3%. Most traders believe there is an increasing chance Swiss National Bank will resort to unconventional monetary easing to counter the economic recession. U.S. dollar offers are cited around the CHF 1.1815 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5020 level while the British pound came off vis-à-vis the Swiss franc and tested bids around the CHF 1.1710 level.
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