The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.1560 level and was capped around the CHF 1.1660 level. Data released in Switzerland today saw January producer and import prices fall 0.8% and 0.9% y/y. Some traders believe Swiss National Bank will be forced to adopt unconventional monetary policy this year. U.S. dollar offers are cited around the CHF 1.1830 level. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4905 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.6950 level.
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