EUR/USD Slides After SNB Leaves Policy Unchanged

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The Swiss National Bank made its quarterly rate decision and made no changes: the interest rate remains minimal, and the floor of 1.20 under remains unchanged. The same determined text repeated itself.

EUR CHF Lower After SNB Decision December 13 2012

EUR CHF Lower After SNB – Click image to enlarge

Towards the decision, there was some speculation that the SNB would lift the peg to 1.25, given the low CPI. EUR/USD which traded above 1.21 for a day or so, dropped instantly by around 40 pips. The reaction was also felt in EUR/USD.

Euro/dollar traded just under the 1.31 level, after enjoying the Fed decision of QE4. However, the Swiss decision sent it lower, as low as 1.30 before it reached the current level of 1.3063.

EUR USD Lower After SNB Decision December 13 2012

EUR USD Lower After SNB – Click image to enlarge

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.