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Swiss Franc Falls Ahead Of SNB Rate Decision

At 4:30 am ET Thursday, the Swiss National Bank announces its interest rate decision. The bank is forecast to hold the rate on sight deposit at -0.75 percent and the target range for the three-month Libor between -1.25 percent and -0.25 percent.

Ahead of the announcement, the Swiss franc fell against its major rivals.

As 4:25 am ET, the Swiss franc was trading at 1.0722 against the euro, 1.2272 against the pound, 0.9999 against the U.S. dollar and 113.33 against the yen.

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Forex News

All eyes were on the U.S. Federal Reserve this week as the bank announced its latest policy decision. Find out the signals given out by Chair Jerome Powell regarding the future path of interest rates. Some key data on the U.S. private sector economy were also released. Other main news included the flash estimates of first quarter GDP from Eurozone. Elsewhere, the Paris-based think tank OECD released its latest round of macroeconomic projections for the global economy.

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