Bloomberg News

Swiss Franc Extends Gain Versus Euro, Dollar After SNB Holds Cap

December 15, 2011

Dec. 15 (Bloomberg) -- The Swiss franc extended gains versus the euro and dollar after the central bank maintained the currency’s exchange-rate ceiling.

The franc was 0.8 percent stronger at 1.2284 per euro at 8:32 a.m. London time and appreciated 1.2 percent against the dollar.

The Swiss National Bank, led by Philipp Hildebrand, kept the franc’s minimum exchange rate at 1.20 per euro today. That’s in line with the forecasts of nine out of 13 economists in a Bloomberg News survey. The Zurich-based central bank also maintained its benchmark interest rate at zero.

To contact the editor responsible for this story: Mark McCord at mmccord2@bloomberg.net


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