Dhaka, Bangladesh (BBN) – The Swiss franc fell against the euro and the US dollar on Thursday with traders citing talk that the Swiss National Bank (SNB) was adding liquidity via the currency forwards market.
The Swissfranc had been edging higher against the euro for much of the Asian trading session, after the SNB’s latest steps to curb franc strength, announced on Wednesday, fell short of expectations, a market review report said.
But the Swiss franc quickly retreated late in the Asian trading session against both the euro and the dollar.
The SNB had stepped up its efforts to tame a runaway franc on Wednesday by announcing an expansion of its liquidity policy.
The SNB said it would boost liquidity by expanding sight deposits to 200 billion francs from 120billion, reiterating it would take additional steps if needed.
BBN/SSR/SI-18Aug11-4:54 pm (BST)
