The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 1.0600 figure and was capped around the CHF 1.0660 level. March money supply data will be released tomorrow followed by the March trade balance and April Credit Suisse ZEW survey on Thursday. Swiss National Bank Vice Chairman Jordan last week said regulators cannot allow governments to be blackmailed into protecting banks from collapse during future financial crises. There was talk yesterday that the Swiss National Bank may have sold francs for euro this week in an intervention to try and support the Swiss export sector. 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 1.4330 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.6400 figure.
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