The Swiss Franc gives away previous gains against the US Dollar (USD) with the USD/CHF pair turning positive on daily charts as the Swiss National Bank (SNB) confirmed its decision to leave rates unchanged. The pair has popped up above 0.8000 following the interest rate decision, approaching two-and-a-half-month highs at 0.8015.
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The Swiss central bank has left its benchmark interest rate steady at 0% for the twelfth consecutive time, as it was widely expected. The bank’s statement acknowledges a recent uptick in inflation due to higher energy prices, yet with medium-term inflationary pressures virtually unchanged, which suggests that the monetary policy is unlikely to change in the coming months
The SNB Chairman, Martin Schlegel, is speaking to the press at the time of writing, providing further details about the bank’s economic forecasts and the monetary policy outlook.
Earlier on the day, data released by Swiss customs revealed that the Trade Balance surplus widened to CHF 6.11 billion in May, doubling up April’s CHF 3.05 billion surplus. The figures provided mild support to the Swissie at the European session opening.
The Swiss Franc dropped more than 0.8% on Wednesday as a hawkishly-leaning Federal Reserve (Fed) sent the US Dollar rallying across the board. The Fed kept interest rates on hold in the first meeting under Kevin Warsh, but the new chairman cleared doubts about his commitment to bring inflation under control, while the dot plot showed that half of the committee members see at least one rate hike before the year-end.
Economic Indicator
SNB Interest Rate Decision
The Swiss National Bank (SNB) announces its interest rate decision after each of the Bank’s four scheduled annual meetings, one per quarter. Generally, if the SNB is hawkish about the inflation outlook of the economy and raises interest rates, it is bullish for the Swiss Franc (CHF). Likewise, if the SNB has a dovish view on the economy and keeps interest rates unchanged, or cuts them, it is usually bearish for CHF.
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Last release:
Thu Jun 18, 2026 07:30
Frequency:
Irregular
Actual:
0%
Consensus:
0%
Previous:
0%
Source:
Swiss National Bank
Economic Indicator
SNB Press Conference
The Swiss National Bank (SNB), led by the Chairman of the Governing Board, holds a press conference after each of its quarterly meetings, held in March, June, September and December, when it takes decisions on interest rates and formulates economic forecasts for the future. The press conference has two parts – first a prepared statement is read out, then the conference is open to questions from the press. The questions often lead to unscripted answers that create market volatility. Hawkish comments tend to boost the Swiss Franc (CHF), while a dovish message tends to weaken it.
Read more.
Last release:
Thu Jun 18, 2026 08:00
Frequency:
Irregular
Actual:
–
Consensus:
–
Previous:
–
Source:
Swiss National Bank
Editorial note: This recovered market brief has been cleaned and reclassified by Next Move Markets for educational market intelligence. It is not investment advice.
Next Move Markets desk view
For active traders, this brief should be read through the lens of global markets rather than as a standalone headline. The key question is whether the theme behind Swiss Franc edges lower after SNB leaves rates unchanged as expected can influence positioning beyond the first reaction. That means watching liquidity, macro data, sentiment, positioning and cross-asset confirmation together, not in isolation.
A richer trading read comes from separating the catalyst from confirmation. The catalyst explains why markets are paying attention; confirmation comes from price action, liquidity and cross-asset behavior after the headline is digested. If those signals do not align, traders should treat the move as fragile and keep risk tighter.
What traders should watch next
- Whether price action confirms the headline after the first reaction has passed.
- How related markets respond, because isolated moves are easier to reverse.
- Any follow-up data or official comment that changes the original market assumption.
- Volatility and liquidity conditions, which should guide risk size before direction.
Risk context
This article is a market-intelligence brief, not a trade recommendation. Before acting on the theme, traders should define invalidation, position size and the time horizon of the setup. The same headline can support a short-term reaction and still fail as a multi-session trend if liquidity, policy expectations or broader sentiment move the other way.
Scenario map
The base case is that traders keep this theme on the radar while waiting for confirmation from liquidity, macro data, sentiment, positioning and cross-asset confirmation. A stronger continuation scenario requires follow-through after the first reaction, preferably with related assets moving in the same direction. A failure scenario develops if the headline is quickly absorbed, volatility fades and price returns inside the previous range.
For global markets, the most useful approach is to compare the article theme with live market behavior. If the market confirms the narrative, pullbacks can become more constructive. If the market rejects it, the headline becomes background noise rather than a trading driver.
Execution discipline
- Define the level first: traders should know where the idea is invalidated before thinking about upside or downside.
- Separate news from setup: Swiss Franc edges lower after SNB leaves rates unchanged as expected may explain attention, but entry quality still depends on timing, liquidity and risk/reward.
- Watch confirmation: a clean move usually appears across related markets, not only in one isolated instrument.
- Control exposure: if volatility expands, smaller position sizing can be more professional than chasing the headline.
Next Move Markets treats this kind of brief as a starting point for preparation: identify the driver, map the scenarios, then wait for the market to prove which path is actually being priced.
