SNB fails to move Swissie
MARKET NEWS
Monetary policy moves from the Swiss National Bank (SNB) failed to impact on the Swiss franc last week, says Andrew Joncus (right) of UBS Warburg in Zurich
The Swiss franc has gone from strength to strength. From the beginning of March to the end of April, the euro fell from E1.48 to E1.45 against the Swiss franc and the dollar from $1.71 to $1.60.
These moves were initially driven by global risk aversion, which was mainly focused on the US economic outlook, US markets, oil prices and the Middle
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