As expected, the Swiss National Bank is keeping its monetary policy dovish, thereby maintaining price developments and supporting economic activity.

SNB Interest Rates

• Interest on sight deposits with the SNB remains unchanged at –0.75%
• The target range for the three-month Libor rate was also left unchanged –1.25% and –0.25%.

As per our forecast, the USD/CHF pair is heading north towards our take profit level of $0.9951. Now let’s move the stop loss at breakeven and enjoy the bullish rally.

Good luck!