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First up it is the Swiss National Bank this morning
At 8.30am GMT the first of 3 major central bank policy decisions will hit the screens. That is from the Swiss National Bank (SNB) and no change in the current 1.75% OCR is expected. The USD/CHF has been under the hammer most recently and that got a further push lower last night, as the dollar got thrashed everywhere. However, the USD/CHF has lifted so far this morning and that is why I am adding some commentary here, where I do not usually do so. The SNB will probably not be too happy to see their currency strengthen right now and that might lead to the usual rhetoric we have heard from them so much in the past. As to whether that will deliver a policy change this morning is another matter though, but all I can say, is that no one expects that. The USD/CHF fell to a low at 0.8666 earlier today. It is rebounding now, into that SNB policy decision, currently trading at 0.8712
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