The Swiss franc was struggling today as it nears the ceiling set by the Swiss National Bank, testing the resolve of interim Chairman Thomas Jordan to keep the policy of making the currency weaker.
The Swissie has breached the cap of 1.20 francs per euro yesterday, but retreated back below the ceiling. It was the first time the franc reached the cap since it was introduced in September last year. Today, the currency fluctuates near the cap, but didn’t reach as for now. The franc was up against the US dollar as US non-farm payrolls were somewhat disappointing.
EUR/CHF traded at 1.2007 as of 13:00 GMT today after rising from 1.2014 to 1.2023. USD/CHF was down from 0.9197 to 0.9165.
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