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Rate had edged up to Chf0.9980/84......>

DOLLAR-SWISS
MNI (London)
DOLLAR-SWISS: Rate had edged up to Chf0.9980/84 ahead of the SNB rate decision,
some suggestion that specs may have shorted the Chf ahead of the announcement in
case the Bank tracked the ECB and trimmed rates by 10bps. However, SNB
maintained rates which has prompted a quick covering back of those positions
taking USD/CHF down to an initial low of Chf0.9950 with secondary flow extending
the reaction to Chf0.9924. Traders will be aware that again the Bank has said
that it is willing to intervene in markets if needed. Rate currently trades
around Chf0.9940 at posting.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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