The Swiss franc fell against the other major currencies on Thursday, extending the decline seen in recent sessions amid heightened expectations for further intervention by the Swiss National Bank (SNB).
The franc was pressured lower this week by expectations that the SNB will intervene in the market to prevent the appreciation of the currency, especially after the bank’s Vice President Jean-Pierre’s comments that SNB is ready to intervene in currency markets.
The SNB abandoned its three-and-a-half year old 1.20 per euro exchange rate on January 15, which weighed on the franc.
The USD/CHF pair gained 1.25% around 0.9164 at 11:41 GMT.