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Swiss franc edges lower after SNB decision

Switzerland’s currency fell modestly after the country’s central bank held its main interest rate steady and softened its tone on the franc’s strength.

The currency recently slipped 0.35 per cent to 1.1498 francs per euro. Thursday’s decline brings the franc’s fall this year to 6.9 per cent, according to FactSet data.

The SNB said that the franc still remains “highly valued”, and reiterated its commitment to “intervene in the foreign exchange market as necessary” to keep the currency from appreciating.