Swiss Decision Undermines Dollar

The dollar ended lower against most major currencies Thursday, hurt by strength in the Swiss franc after Switzerland’s central bank surprised the market by failing to reduce interest rates.

After the early morning announcement from the Swiss National Bank, traders sold off the dollar and the German mark in favor of the Swiss franc.

Moderate profit-taking against the dollar following its strong move up Wednesday also contributed to the U.S. currency’s decline.

Exchange Currency in Dollars Dollar in foreign currency Canada .7276 1.3743 France .1970 5.0765 Germany .6732 1.4854 Great Britain 1.5510 .6447 Italy .000660 1514.80 Japan .009251 108.10 Mexico .133645 7.4825