EUR/CHF lower as SNB takes no action by Milan Cutkovic

  • Nothing new from the SNB
  • The bank keeps the 1.20 floor and says it will take further measures if necessary to defend it
  • Some were expecting the introduction of negative deposit rates, hence the drop in EUR/CHF
  • Lower inflation forecasts also weighed on it
  • The pair dropped from 1.2037 to 1.2011

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