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USD/CHF Analysis: SNB Decision Breaks Multi-month Trend
According to Reuters, on the sidelines of the World Economic Forum in Davos in January, the head of the Swiss National Bank (SNB) Thomas Jordan told the Swiss press that the appreciation of the franc creates problems for exporters. Thus, indicating intentions to weaken the CHF.
His words in January seem to be in line with how events are developing — the franc has weakened against the US dollar by more than 6% since the start of the year.
Moreover, today, quite unexpectedly, the Swiss National Bank decided to lower the interest rate: actual = 1.50%, forecast = 1.75%, previous value = 1.75%.
The result of the decision today was a sharp weakening of the franc against other currencies, including the US dollar.
TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
According to Reuters, on the sidelines of the World Economic Forum in Davos in January, the head of the Swiss National Bank (SNB) Thomas Jordan told the Swiss press that the appreciation of the franc creates problems for exporters. Thus, indicating intentions to weaken the CHF.
His words in January seem to be in line with how events are developing — the franc has weakened against the US dollar by more than 6% since the start of the year.
Moreover, today, quite unexpectedly, the Swiss National Bank decided to lower the interest rate: actual = 1.50%, forecast = 1.75%, previous value = 1.75%.
The result of the decision today was a sharp weakening of the franc against other currencies, including the US dollar.
TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.