SNB Keeps Franc Capped at 1.20

The Swiss National Bank kept its cap on the franc at 1.20 per euro on Thursday, reiterating its commitment to defend the limit with currency interventions and take further measures immediately if necessary.

It kept its target range for the three-month Libor at 0.00-0.25 percent, as analysts polled by Reuters all expected.

The Swiss franc has strengthened towards the 1.20 threshold in recent weeks, fanning speculation about whether the central bank might take action to stem the currency’s rise. The last time the SNB intervened to defend the cap was two years ago.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza