The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0680 level and was capped around the CHF 1.0585 level. Data released in Switzerland today saw February decline to 1.2 from 1.32 in January. The Swiss KOF Research Institute last week upgraded its 2010 and 2011 economic growth forecasts for the Swiss economy today to 1.7% and 2.2%, respectively. Consumer price inflation is expected to be around 0.9% and 1.0%, respectively - also an upgrade from previous forecasts. Swiss President Leuthard last week said the franc is at a quite crucial level and said it is up to the Swiss National Bank to decide whether to intervene. Swiss National Bank Vice Chairman Jordan reiterated last week that the central bank will work to prevent excessive franc appreciation. Swiss National Bank President Hildebrand last week reported the central bank will decisively act against excessive franc strength, noting the central bank can intervene to a very large extent. Hildebrand today called for banking regulation reform. U.S. dollar offers are cited around the CHF 1.1180 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4305 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.0680 level.