The Swiss franc fell against the US dollar and was little changed versus the euro after the Swiss National Bank left its monetary policy unchanged.
The SNB made the same policy decision as the BoJ, namely keeping policy without change. The central bank continued to voice concern about the strength of the franc, meaning that interventions on the currency markets will likely continue. One of the reasons for the SNB to stay passive was fear of the possible Brexit:
The imminent UK referendum on whether to stay in the European Union may cause uncertainty and turbulence to increase.
USD/CHF rallied from 0.9613 to 0.9664 as of 12:04 GMT today, bouncing from the daily low of 0.9571. EUR/CHF traded at 1.0819, not far from the opening of 1.0823.
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