LONDON: The Swiss franc rose briefly versus the euro and dollar on Thursday after the Swiss National Bank said it will stick to its floor of 1.20 francs in euro/Swiss, disappointing some market players who had speculated the floor may be raised.
The euro dipped to a session low of 1.2080 Swiss francs before paring losses to trade at 1.2102 francs, little changed from before the decision.
Last week the euro hit an eight-month high of 1.2155 francs on speculation the SNB would rise the floor to 1.22 francs to counter deflation and slowing Swiss economic growth.
The dollar also dropped to a session low of 0.93549 francs before recovering to trade at 0.93700 francs, barely changed for the day.
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