 Swiss Franc is currently the worst performer today, plummeting after SNB delivered a rate cut for the second consecutive meeting. In addition to the rate reduction, SNB lowered its inflation forecast across the board. Nevertheless, Franc's selloff has been relatively restrained. Notably, SNB did not mention the recent sharp appreciation of the Franc in its press release, suggesting that it wasn't a primary driver for the rate cut. Additionally, SNB Chair Thomas Jordan emphasized that currency market interventions could be executed in both directions. This suggests that SNB might tolerate further appreciation of the Franc for now, especially if driven by political instability in the EU.... |
