3:30am SNB Libor Rate Decision Forecast 0.25% Previous 0.25%
ACTION: USD/CHF SELL 0.50%
SNB (Swiss National Bank) is likely to keep the 3-month libor rate at the current level of 0.25%, as surveyed by reuters today. As a matter of fact, most analysts agree that SNB is likely to keep rates unchanged until mid 2010. As SNB is not in the habit of surprising the market, it is practically 100% that SNB will keep rates at 0.25%; however, just in the event that SNB does hike rates, we will SELL USD/CHF immediately.
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