Swiss franc falls following SNB loosening

The Swiss franc lost further ground on the dollar in late European trade on Thursday March 22 after the Swiss National Bank (SNB) surprised markets with a 25 basis point cut in its LIBOR target rate to 3.25 percent. The SNB said it considered a slight relaxation of monetary policy to be appropriate given the reduced risks to price stability and the increased economic uncertainty.

The move caught markets off guard after SNB Chairman Jean-Pierre Roth told a Swiss Sunday paper recently that the

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