NEWS

The euro exchange rate stayed on similar level against the US dollar with just slightly upper price, as investors fear for dovish results from the European Central Bank’s meeting next week and took a more bearish approach on the common currency. There are expectations for better euro’s recovery soon among analysts.

Commercial banks in Switzerland managed to hit higher profits in 2018, while mortgage loans reached CHF1 trillion level, as consumers took advantage of low interest rates – these are some of findings of the SNB report for 2018 on the condition of private banks’ – both domestic and foreign-controlled – industry.

The operator of the Swiss stock exchange, SIX Group revealed it would like to see the Swiss National Bank issuing some form of cryptocurrency that would be used to settle payments on SIX’s new digital assets platform. SIX is about to launch the platform and is looking for a mean of settling transactions on it.

The franc continues to get stronger against the euro. The euro franc exchange rate fell below the 1.1115 francs per euro today after 15:00, which is the lowest level since 2017.

FED has started on Tuesday 18th June its two-day meeting that will end with a statement on economic forecasts. Investors highly anticipate the statement, and this had influence on currencies’ exchange rates on Tuesday and Wednesday.