The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0505 level and was supported around the CHF 1.0445 level. Data released in Switzerland yesterday saw the December UBS consumption indicator fall to 1.2 from 1.26 in November. Swiss National Bank President Hildebrand recently reported he is extremely interested in the Obama administration's bank proposals. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4710 level while the British pound moved higher vis-à-vis the Swiss franc and tested bids around the CHF 1.7005 level.
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