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SNB cuts interest rates to 1.50%- USD/CHF jumps above 0.8950

The Swiss National Bank has just surprised by cutting their OCR to 1.5%, from 1.75%. This move was not expected and it has caused an immediate reaction in the USD/CHF and the EUR/CHF. The USD/CHF has jumped sharply above 0.8950 and that is more than 100 pips above the earlier session lows. The USD/CHF is currently trading at 0.8960 

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