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EUR/CHF hits 2-week highs amid Draghi's comments

FXStreet (Córdoba) - EUR/CHF climbed to a 2-week high as the knee-jerk reaction to Draghi's speech but it retraced some gains soon after.

Draghi sounded dovish as expected, reiterating risks remain to the downside and low inflation is expected to persist. He also said the bank is ready to use further unconventional measures if inflation remains too low for too long. ECB President also said further details of the program will be unveiled in a press release at 13:30 GMT.

At time of writing, EUR/CHF is trading at 1.2080, recording a 0.12% gain Thursday. EUR/CHF rose sharply Wednesday amid rumors the SNB is unofficially bidding at 1.2050.

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