By
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.