Forex News
The Swiss franc let loose a little ground against the euro and the dollar Thursday after the third intervention approaches & Others ...
The Swiss franc let loose a little ground against the euro and the dollar Thursday after the third operation closer to the Swiss National Bank (SNB) to bring down the Swiss franc, considered "massive" overvalued.
At 8:30 (6:30 GMT), the euro stood at 1.1475 CHF per 1 euro, while the day before it was around 1.13 and 1.14. The euro strengthened and 0.67%
Same trend for the dollar, which took 0.81% to 0.7966 CHF for 1 dollar.
The SNB is an unconfirmed threshold of 1.20 CHF for 1 euro.
Wednesday, the National Bank intervened for the third time in 15 days, by injecting liquidity into the financial system. And the federal government decided to support up to CHF 2 billion (EUR 1.74 md) sectors particularly affected, such as export industries and tourism.
Last week, the Swiss franc, a safe haven par excellence, was so popular that it was trading close to parity with the euro, or 1 CHF for 1 euro.
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