USD/CHF jumps to weekly highs after SNB reduced exemptions on negative rates

FXStreet (Córdoba) - USD/CHF rose more than 150 pips over the last hours as the Swiss franc weakened across the board after the Swiss National Bank (SNB) said it has considerably reduced the group of sight deposit account holders that are exempt from negative interest.

USD/CHF climbed sharply and printed a fresh weekly high of 0.9652 before finding resistance at the 50-day SMA. At time of writing, the pair is trading at 0.9642, recording a 1.02% gain on the day.