At 0.8015, USD/CHF is back to levels above 0.8000 and is very close to two-and-a-half-month highs.
The SNB has maintained interest rates at zero percent and has hinted at a stable monetary policy going forward.
The US Dollar holds gains following a "hawkish stand by the Fed on Wednesday.
With the USD/CHF pair becoming positive on daily charts as the Swiss National Bank (SNB) reaffirmed its intention to keep rates steady, the Swiss Franc gives up its gains against the USD. After the interest rate decision, the pair surged above 0.8000, getting close to two-and-a-half-month highs at 0.8015.
As was largely anticipated, the Swiss central bank has maintained its benchmark interest rate at zero percent for the twelfth time in a row. According to the bank's statement, there has been a recent increase in inflation as a result of rising energy prices, but medium-term inflationary pressures have remained essentially unchanged, indicating that monetary policy is unlikely to alter in the upcoming months At the time of writing, Martin Schlegel, the chairman of the SNB, was addressing the media and giving more information about the bank's monetary policy outlook and economic projections.
The Trade Balance surplus doubled from CHF 3.05 billion in April to CHF 6.11 billion in May, according to statistics issued earlier in the day by Swiss customs. The numbers gave the Swissie a little boost at the start of the European session.
The Swiss Franc plummeted more than 0.8% on Wednesday as a hawkishly-leaning Federal Reserve (Fed) drove the US Dollar rising across the board. While the dot plot revealed that half of the committee members anticipate at least one rate hike before the year's end, the Fed held interest rates on hold during its first meeting under Kevin Warsh. However, the new chairman dispelled concerns about his commitment to controlling inflation.
The SNB has maintained interest rates at zero percent and has hinted at a stable monetary policy going forward.
The US Dollar holds gains following a "hawkish stand by the Fed on Wednesday.
With the USD/CHF pair becoming positive on daily charts as the Swiss National Bank (SNB) reaffirmed its intention to keep rates steady, the Swiss Franc gives up its gains against the USD. After the interest rate decision, the pair surged above 0.8000, getting close to two-and-a-half-month highs at 0.8015.
As was largely anticipated, the Swiss central bank has maintained its benchmark interest rate at zero percent for the twelfth time in a row. According to the bank's statement, there has been a recent increase in inflation as a result of rising energy prices, but medium-term inflationary pressures have remained essentially unchanged, indicating that monetary policy is unlikely to alter in the upcoming months At the time of writing, Martin Schlegel, the chairman of the SNB, was addressing the media and giving more information about the bank's monetary policy outlook and economic projections.
The Trade Balance surplus doubled from CHF 3.05 billion in April to CHF 6.11 billion in May, according to statistics issued earlier in the day by Swiss customs. The numbers gave the Swissie a little boost at the start of the European session.
The Swiss Franc plummeted more than 0.8% on Wednesday as a hawkishly-leaning Federal Reserve (Fed) drove the US Dollar rising across the board. While the dot plot revealed that half of the committee members anticipate at least one rate hike before the year's end, the Fed held interest rates on hold during its first meeting under Kevin Warsh. However, the new chairman dispelled concerns about his commitment to controlling inflation.
