Swiss franc expected to retrace its fall as ECB news sinks in

Swiss flag

The euro has rallied sharply against the Swiss franc following yesterday's announcement by the European Central Bank (ECB) of plans to buy the short-term bonds of eurozone economies to safeguard the future of the single currency, but foreign exchange strategists believe the franc will strengthen again in the near term.

EUR/CHF was trading at 1.2153 earlier today, although it has since retraced to 1.2086, according to data from Thomson Reuters. The rally is the first time the pair has moved

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