Swiss Franc Loses Ground in Forex Day Trading

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The Swiss franc fell against all major currencies after the Swiss National Bank made an announcement that they plan to step into the market and sell Swiss currency. This form of market manipulation wasn’t viewed positively by the market, which was seen by a selloff in forex day trading.

The US dollar was seen to have the biggest benefit of this news seeing the largest rise of all the major currencies.

This type of news was actually a surprise to forex day traders that frown on this type of market manipulation. The fear is that the Swiss bank will drive up the supply of francs and cause a massive devaluation of the currency.

Forex day trading has also been a bit shaky with a bit of a roller coaster ride in some of the major currencies. Most traders are looking to see what the police will be coming out of the Federal Reserve.

Expectations on the Federal Reserve are for them to leave interest rates at the current benchmark to help keep credit available to banks.