December 11, 2009
The SNB’s interest rate decision proved to be uneventful for traders as the USDCHF traded in a tight 60 pip range yesterday. It open the Asian session at 1.0264 and ended the US trading session almost unchanged at 1.0261.
The SNB announced yesterday that they decided to keep rates steady at 0.25% for now. They said that inflation in the country have improved and would likely remain positive during 2010. The bank also reiterated their promise to make sure that the CHF’s value remains stable against the EUR... Which is just another way of saying “Ya’ll better not let the franc appreciate against the euro, else we gonna make ya regret it!”
No economic data coming out of Switzerland today so the USDCHF would probably be moved by news from other major economies, especially the euro zone.
"The only cable I watch is the pound baby."