The Swiss franc fell to the lowest level in a month versus the euro today after the global equities rallied, erasing the demand for the safer currencies, and Switzerland’s central bank signaled about the slowdown of the nation’s economic growth.
The MSCI World Index rose 0.5 percent, the fourth day of gains this week. The Swiss National Bank left yesterday the benchmark interest rate unchanged at 0.25 percent and said that recovery “is not yet sustainable”. Such dovish statement was completely unexpected as previously Switzerland’s economy was perceived to be very stable.
USD/CHF currency pair traded sideways today, remaining near its opening level of 1.0156 as of 9:46 GMT. EUR/CHF went up from 1.3282 to 1.3345, following the advance to 1.3390, the highest level since August 19th.
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