Deteriorating economic situation in Switzerland, forcing the central bank to reduce interest rates in the country with 0.25 percent last week. Reduction of the interest was compounded by the direct intervention of the Bank's foreign exchange market. In so doing, the Swiss National Bank has taken measures against the continued strengthening of the Swiss franc, mainly against the euro and pounds.
These events led to the biggest daily rise in the currency pair euro / Swiss franc. This increase was more than 550 points. Swiss currency is depreciated over a strong pound and U.S. dollar. Pound / Swiss franc has increased by over 650 points. Was strongly influenced pair dollar / Swiss franc, which quotes an up to three new level crossing 1.1900 Swiss francs per dollar.
All this is conducive to the euro, which has managed to rise against the U.S. dollar and British pound.
Last week ECB President Jean-Claude Trichet made the remarks on the delay of the crisis in 2009 and expected recovery in 2010 It was another number of speeches in the style of senior persons from different countries on the global crisis.
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