The Swiss franc depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the CHF 1.1400 figure and was supported around the CHF 1.1275 level. Technically, todayâ€™s intraday low was right around the 23.6% retracement of the move from CHF 1.2475 to CHF 1.0885. Swiss National Bank took part of the global effort by central banks to provide the markets with liquidity, a move it has not undertaken since the 1970s. Traders await SNBâ€™s quarterly interest rate decision tomorrow with most expecting no change in borrowing costs and a minority expecting another monetary tightening. Data released in Switzerland today saw the ZEW economic expectations indicator fall 0.8 points to 29.7. Dollar offers are cited around the CHF 1.1495 level. The euro and British pound appreciated vis-Ã -vis the Swiss franc as the crosses tested offers around the CHF 1.6725 and CHF 2.3345 levels, respectively.
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