OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD slips below 1.2900 after SNB reports

FXStreet (Córdoba) - EUR/USD has come under renewed pressure sliding back below the 1.2900 level amid reports saying the Swiss National Bank is open to negative interest rates.

SNB’s Moser said in a WSJ interview, the bank is ready to set negative interest rates if needed. Moser added that he couldn’t say whether the SNB would announce this at its coming meeting on Sept. 18.

Following European Central Bank latest easing measures and with EUR/CHF moving dangerously close to the SNB floor of 1.2000, many analysts have been speculating whether the Swiss will take further measures aside of direct intervention to protect the floor.

EUR/USD fell to a low of 1.2896 in recent dealings as EUR/CHF surged above 1.2100 on the headlines. At time of writing, EUR/USD is trading at 1.2899, 0.29% below its opening price, with its 14-month low of 1.2859 scored yesterday in sight.

SNB's Moser: SNB open to negative interest rates

SNB Governing Board member Thomas Moser told WSJ reporters on Wednesday that the central bank considered introducing negative interest rates if a need for defending its minimum exchange rate arose.
Read more Previous

USD/CAD hovering over 1.1000

The greenback keeps its momentum alive on Wednesday, taking the USD/CAD to the boundaries of 1.1000 the figure....
Read more Next
Start livechat