The Swiss National Bank published its Monetary Policy Assessment and Policy Rate at 07:30 UTC on 24 September, and the franc eased against every counterpart on our feed. The largest move came in CHFJPY, which slipped 0.57%.
Where the franc moved
CHFJPY led the way, falling from 192.3725 to 191.2710 β a 0.57% drop as the franc gave ground to the yen.
Against the commodity currencies the franc softened by a similar margin. AUDCHF firmed 0.52%, from 0.57922 to 0.58225, and NZDCHF rose 0.51%, from 0.46760 to 0.46997.
The major crosses followed. EURCHF climbed 0.50%, from 0.93766 to 0.94233; USDCHF added 0.48%, from 0.82309 to 0.82702; and GBPCHF gained 0.48%, from 1.09046 to 1.09564.
What the reaction shows
The reaction was broad rather than pair-specific. The franc weakened against all six counterparts by roughly half a percent, and no single cross stood out as an outlier β CHFJPY edged ahead only marginally.
That evenness points to a franc-wide response to the SNB assessment rather than strength or weakness in any one counter-currency. The moves were modest in size and uniform in direction, reading as a measured, market-wide repricing of the franc.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
