The Swiss franc continues to power higher against a slumping US dollar. USD/CHF has fallen 1% this week and plunged 3.8% in November. On Thursday, USD/CHF touched a low of 0.8684, its lowest level since July 31. The Swissie’s rapid appreciation is likely causing sleepless nights at the Swiss National Bank. Policy makers at the central bank follow the exchange rate carefully and have not hesitated to intervene in the currency markets as a monetary policy tool. The stronger Swiss franc has helped dampen inflation but the SNB doesn’t want the currency to be too strong since that hurts the crucial export sector. If the ... (full story)