- Thursday saw the Swiss franc fall down against the majority of its major peers. This came off the back of fresh expectations that there is likely to be further intervention by the Swiss National Bank against the currency. USD/CHF was up well over a percent to its highest point in the last two weeks. The broad reason for intervention is the Swiss National Bank is attempting to prevent appreciation of its currency.
- The New Zealand dollar has had a poor week following the Reserve Bank’s decision to hold its benchmark interest rate at a record low of 3.5%. This signalled that they are preparing to decrease borrowing costs further as the oil crisis has reduced inflation.
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