The Swiss Franc is trading softer against the Pound as it follows the Euro’s movements. Against the US Dollar and Euro the currency is steady.
The Franc is not expected to make much movement until later in the week as traders moved into a holding pattern before the release of the latest US Federal Reserve monetary policy meeting where the Fed is expected to confirm its commitment to maintain lower interest rates for an extended period of time.
The Franc is trading close to a five-week high against the US Dollar, which has seen declines for three straight weeks. Against the Euro the Swiss currency has been trading in tandem with the single currency ever since the Swiss National Bank capped the currency at 1.20 per Euro almost two years. The Bank did this in an attempt to stave off a recession and deflation, the bank has not hinted that this will change anytime soon.
Traders are saying that trading is relatively thin as investors hold back from taking any risks as they look for confirmation of a continuing dovish monetary policy from the two-day long Fed meeting, which begins on Tuesday.
Weighing slightly upon the currency was the release of data showing that amount of cash being held by Swiss commercial banks fell slightly last week. The fall reflects the moves by the Swiss National Bank to defend the 1.20 per Euro cap.
Current Swiss Franc (CHF) Exchange Rates
Swiss Franc/ Euro Exchange Rate is currently in the region of: 0.8112
Swiss Franc/US Dollar Exchange Rate is currently in the region of: 1.0782
Swiss Franc/ Pound Sterling Exchange Rate is currently in the region of: 0.7007
Swiss Franc/ Australian Dollar Exchange Rate is currently in the region of: 1.1667
(Correct as of 14:30 pm GMT)
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