Currencies

Swiss National Bank's unexpected rate cut boosts US dollar

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The US dollar surged following the Swiss National Bank's unexpected rate cut, signalling improved risk appetite globally and reinforcing the greenback's allure amid robust US economic growth.

The Bank of England's decision to maintain rates as projected slightly dampened sterling.

The Federal Reserve's dovish policy stance unveiled the day before, spurred optimism in global markets, especially regarding US investments.

The dollar index climbed 0.75%, with the euro slipping to $1.0862. The Swiss franc plummeted against the dollar and euro following the SNB's rate cut to 1.50%, its first in nine years.

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