CHFJPY Swiss Franc vs Japanese Yen

The Swiss franc came in mixed against its major counterparts in the European session on Thursday, after the Swiss National Bank maintained its policy rate and interest on sight deposits and downgraded inflation forecast due to weaker growth prospects and lower oil prices.

The SNB held its policy rate and interest on sight deposits at -0.75 percent, as expected.

The bank reiterated that it is prepared to intervene more strongly in the foreign exchange market to contain the strength of the Swiss franc.

The central bank said that its expansionary monetary policy helps stabilise economic activity and price developments in Switzerland.

The SNB cut inflation forecast due to the significantly weaker growth prospects and lower oil prices.

The currency fell against its major counterparts in the Asian session.

The franc was down against the dollar, at 0.9503. The pair had closed Wednesday's deals at 0.9486. The franc is seen finding support around the 0.98 mark.

The franc edged lower to 1.0690 against the euro, from a high of 1.0661 seen at 9:30 pm ET. At Wednesday's close, the pair was valued at 1.0665. Further decline in the currency is likely to see support around the 1.10 level.

The franc appreciated to 1.1884 against the pound, registering a 3-day high. The pound-franc pair had finished yesterday's trading session at 1.1910. The franc is likely to face resistance around the 1.10 region, if it gains again.

The Swiss currency held steady against the yen, after having declined to a 2-day low of 112.38 at 9:30 pm ET. The pair was worth 112.78 when it ended deals on Wednesday.

Looking ahead, the Bank of England's interest rate announcement is due at 7:00 am ET. The BoE is widely expected to hold its benchmark bank rate at 0.10 percent and expand the asset purchase program to GBP 745 billion from GBP 645 billion.

Canada new housing price index for May and wholesale sales for April and U.S. weekly jobless claims for the week ended June 13 are due in the New York session.

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