Switzerland and Ireland were added to the US Treasury Supervision List. UU. Regarding FX practicessays Chris Turner, FX Analyst of ING.
A substantial breakdown above 0.94 requires a large cut of SNB rates
“This is an unwanted attention for the Swiss National Bank, which faces inflation close to zero, a very strong Swiss Franco and largely uses FX intervention as part of its monetary policy.”
“While the SNB will publicly say that this new designation of the US Treasury. Uu. Nothing changes in regards to the FX intervention, it will certainly make life more difficult. And with the intervention in potentially limited FX, it could favor a cut of 50 bp of SNB rates on June 19. For reference, the market currently values ​​a cut of 30 Pb.”
“The EUR/CHF has been enjoying a little support for the end of the ECB cycle rhetoric yesterday. But a substantial breakdown above 0.94 will probably require that large cut of SNB rates later this month.”
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.