Swiss Franc Flat After SNB Keeps Negative Rates in Place

The Swiss franc traded sideways during the Thursday’s trading session. The currency has jumped after the Swiss central bank made a policy announcement, but the Swissie but backed off almost immediately.
The Swiss National Bank kept interest rates unchanged in the negative territory and signaled that it is going to keep them at the record low level in the foreseeable future. The central bank acknowledged the impact of its policy on the Swissie:

The negative interest rates in Switzerland and the SNB’s willingness to intervene as required in the foreign exchange market make investments in Swiss francs less attractive; both of these factors serve to ease the pressure on the franc.

Still, the SNB complained that the franc remains overvalued.
USD/CHF traded close to its opening level of 0.9706 as of 15:39 GMT today after dipping to 0.9667 intraday. EUR/CHF ticked up from 1.0961 to 1.0982.

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