Swissie Drops vs. Dollar, Gains vs. Euro

The Swiss franc slumped along with the euro versus the US dollar today. The Swissie rose against the shared 18-nation currency itself but is slowly losing gains right now.

The performance of the Swiss currency was closely correlated to that of the euro since the Swiss National Bank introduced a cap on the franc three years ago. While central banks of some developed countries are planning to tighten their monetary policies, the European Central Bank maintains its easing bias. Most analysts believe that in such environment the SNB has no choice but maintain the currency ceiling for at least a year or two.

USD/CHF was up from 0.9063 to 0.9088 as of 19:36 GMT today. EUR/CHF dropped from 1.2113 to 1.2099 before trading at 1.2106.

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