The Swiss franc appreciated sharply vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1355 level and was capped around the CHF 1.1515 level. Swiss National Bank is expected to continue pursing quantitative easing measures by conducting franc-selling intervention in the foreign exchange markets. Data released in Switzerland today saw the February UBS consumption indicator decline to 0.89. U.S. dollar bids are cited around the CHF 1.1165 level. The euro came off vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5140 level while the British pound lost ground vis-à-vis the Swiss franc and tested bids around the CHF 1.6260 level.