Financial markets

At a glance

Towards the end of 2014, market participants prepared for a tightening of monetary policy in the USA, whereas in the Eurozone further easing was expected. The value of the euro fell against the US dollar, leading to a weakening of the Swiss franc too against the US dollar. The franc increased against the euro, however, remaining stubbornly close to the minimum exchange rate. In January 2015, in order to enforce the minimum exchange rate against the euro, the Swiss National Bank was obliged to make currency interventions of ever increasing magnitude.

Exchange market: exchange rates in Switzerland
Late September
Eurozone (1 EUR) UK (1 GBP) USA (1 USD) Japan (100 JPY) Australia (1 AUD)
2012 1,210 1,518 0,935 1,204 0,977
2013 1,222 1,463 0,905 0,925 0,845
2014 1,207 1,548 0,953 0,870
0,832
2015 1,093 1,478 0,973 0,809
0,685
2016 1,083
1,256 0,968 0,959 0,737
Source: Swiss National Bank (SNB)

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CH-2010 Neuch√Ętel
Switzerland

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