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    Forex News from New Forex: Swiss National Bank keeps the negative interest rate

    The Swiss franc has not significantly changed against the US dollar and the euro after the decision of the Swiss National Bank to hold the current interest rate at −0.75%. The currency instrument euro/franc stands at 1.0822, dollar/franc gained 0.6% to 0.9615. Since the start of this month the Swiss franc advanced 2% against the euro and 3% against the US dollar.

    The market keeps a close eye on the British currency before the hard choice about the membership in the EU. The pound pares earlier losses after the release of data on retail sales in May. Retail sales surged from 5.2% in April to 6.0% year on year, meanwhile experts forecast a decline to 3.9%. Core retail sales climbed 5.7% in comparison with the same period last year. Thus, at the moment pound/dollar tumbles 0.24%, euro/pound gains 0.19%.

    The dollar index slid 0.13% to 94.55. European markets stay in the red zone today after the decision of the Fed and the Bank of Japan. The pan-European index STOXX 600 slipped to 0.9%, the UK’s FTSE slumped to 0.62%, the German DAX lost 0.79%, the French CAC 40 dropped by 0.77%.

    NewForex Analyst

    Michael Butnitsky


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