The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0715 level and was capped around the CHF 1.0785 level. Data released in Switzerland today saw the March unemployment rate decline to 4.2% from 4.4% in February. Swiss National Bank's 2009 Annual Report was released today in which the central bank indicated it expects GDP growth around 1% this year, down from the prior forecast of 1.5%. Swiss National Bank is thought to have intervened again yesterday by selling the franc but this will remain unconfirmed and is far from certain because while the pair appreciated quickly, it did not appreciate by more than 35 pips. U.S. dollar offers are cited around the CHF 1.0920 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4320 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.6395 level.