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USD/CHF near recent lows even as SNB might lower rates this morning

At 7.30am GMT the Swiss National Bank (SNB) may lower their OCR to 1.25%, from the current level of 1.5%. Now, it was the SNB who surprised the markets, when they lowered their rate in March from 1.75% to 1.50%. There seems to be a mixed set of opinions out there, as to whether they will move again today. Well, judging by the price action in the USD/CHF over the past week one might think the SNB were actually about to raise interest rates, not lower them. That is because the USD/CHF has fallen back from a high close to 0.9000 last, to a low seen yesterday at 0.8827. Of course that is more about the dollar than it is about the Swiss Franc. The range seen in the USD/CHF so far today has been covered by 0.8835 to 0.8849. It is currently trading at 0.8838 

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