Swiss Franc falls amid signs of SNB intervention
ecPulse
2015-01-27 15:03PM UTC
The Swiss franc fell against the U.S. dollar on Tuesday amid speculations that the Swiss National Bank (SNB) was intervening in the market to weaken the currency.
The franc rose after the SNB surprising decision to end its minimum exchange rate of 1.20 franc/euro and pushed its interest rate deeper into negative territory.
SNB Vice President Jean-Pierre Danthine said that the bank is still fully prepared to intervene in currency markets.
USD/CHF pair rose as high as 0.9166 before trading around 0.9002 at 11:26 GMT.
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