**Forex | Swing**
**USD/CHF Long**
September 22, 2022 | 08:51:49 UTC
At its September quarterly monetary policy assessment, the Swiss National Bank (SN hiked its benchmark sight deposit interest rate by 75 bps to 0.50% from -0.25% previous, as widely anticipated.
In the June meeting, the central bank surprised markets with a 50 bps increase, its first rate hike since September 2007. The dramatic move sent the Swiss franc surging more than 2% against the common currency.
In an initial reaction to the SNB rate hike decision, the USD/CHF pair spiked to fresh two-week highs of 0.9759, where it now wavers. The spot is adding 0.95% on the day.