The Swiss franc fell against the dollar and euro on Tuesday after the head of the Swiss National Bank was quoted as saying the SNB was committed to preventing a strengthening of the currency. The franc dropped 0.3 percent against the euro compared to the New York close, trading at 1.5418 per euro. The franc fell 0.2 percent against the dollar to 1.1861 per dollar.
The bank announced drastic steps last Thursday to fight deflation, surprising markets with intervention to weaken the Swiss franc as well as an interest rate cut as it forecast a deep recession.
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