Swiss franc up as Swiss National Bank holds interest rates firm
The Swiss franc was bolstered today as the Swiss National Bank kept interest rates at a record low. This rose the Swiss franc to a one month high against the euro, whilst sterling fell sharply after weak UK sales figures were released.
The euro’s fall helped prod the dollar up as the dollar index rose by 0.2 percent; this helped to recover some losses sustained by the greenback earlier this week after a glut of weak US economic data, including US inflation data was released.
Sterling was the session’s biggest loser, falling by 1 percent against the dollar as UK retail sales unexpectedly fell in May and public sector borrowing hit a new high.