Dutch International: Swiss Franc dragged down by Swiss interest rate lag, may further decline.

Chris Turner of the Dutch International Group stated in a report that the recent decline of the Swiss franc may reflect a lag in Swiss market interest rates. Market pricing by the London Stock Exchange Group suggests that the Swiss National Bank will maintain interest rates at 0% this year, while other central banks are expected to raise rates. Turner said that the European Central Bank is expected to raise rates on Thursday and may acknowledge pricing reflecting further rate hikes. He also said that data from June 30 may show a significant increase in Swiss National Bank interventions in the first quarter to weaken the Swiss franc. Data from the London Stock Exchange Group shows that the euro fell 0.1% to 0.9194 Swiss francs after hitting a five-week high of 0.9205 Swiss francs overnight; the Dutch International Group believes the euro could rise to 0.93 Swiss francs.