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Swiss franc edges up versus euro after SNB announcement

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By Imad Uddin
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swiss-francLONDON: The Swiss franc edged higher against the euro on Thursday after the Swiss National Bank said it was sticking to its cap on the Swiss currency of 1.20 francs per euro.

 

The SNB reiterated it was prepared to buy unlimited amounts of foreign currency.

 

The euro dropped to match the day's low at 1.2105 francs from around 1.2117 before the announcement.

 

The franc has weakened in recent days as Swiss banks said they would impose negative interest rates on deposits.

 

Copyright Reuters, 2012

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