EUR/CHF hits 1-month low

By FXstreet.com | June 19, 2014 AAA

FXStreet (Córdoba) - The EUR/CHF fell to retest last month’s lows as the franc strengthened following the Swiss National Bank (SNB) decision to leave its rate at 0-0.25% and the EUR/CHF peg unchanged at 1.2000.



The EUR/CHF fell to 1-month lows at the 1.2160 area despite the SNB reiterated it would defend the floor set at 1.2000 in September 2011 with utmost determination. At time of writing, the euro-franc is trading at 1.2165, recording a 0.09% loss on the day.



The direct intervention on EUR/CHF helped the Swiss economy to avoid stronger deflation through the Eurozone crisis, but the pair found a top at 1.2646 in May 2013 and has been steadily declining ever since.



USD/CHF falls to 10-day low



As for the USD/CHF, the pair hit a 10-day low of 0.8919 also helped by the EUR/USD rise, but managed to stabilize in a range just above that level.



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