The Swiss National Bank (SNB) is maintaining its expansionary monetary policy, thereby stabilizing price developments and supporting economic activity. Interest on sight deposits at the SNB remains at –0.75% and the target range for the three-month Libor is unchanged at between –1.25% and –0.25%.

This makes Swiss Franc stronger but the USD/CHF is facing strong support at 0.9920. The pair can reverse above this level to target 0.993. The market can go after 0.9900 below 0.9920 today.