Swiss franc is trading near its highest level in three weeks

Rise in the Swiss franc against the dollar during Friday's trading, after rising yesterday to its highest level in three weeks, it comes after the dollar levels against major currencies fell dramatically after the European Central Bank's decisions.

The dollar against the Swiss franc pair is currently trading at the level of 0.9835 after recording the highest at 0.9850 and the lowest at 0.9825 comes after the pair fell yesterday to the lowest level in three weeks at 0.9810.

High levels of the Swiss franc today comes amid currency benefit from the decline in US dollar against the major currencies in the financial markets yesterday after the European Central Bank decisions that helped the euro to rise to a record reflected negatively on the performance of the dollar.

The European Central Bank announced yesterday during its second meeting this year, a decline in interest rates to reach 0.0% from 0.05% in addition to lower interest rates on deposit to a new negative zone at 0.4% from a previous decline of 0.3%.

In addition to this the ECB has increased stimulus program for the purchase of bonds to become worth 80 billion euros a month of 60 billion euros, the European Central Bank President Mario Draghi points out in his statements that the ECB may not resort to a new cut in interest rates.

The dollar index, which tracks the dollar's performance against a basket of major currencies trading today around 96.11 level after recording lows at 95.99 and the highest level at 96.22 comes after fell yesterday to its lowest level in three weeks at the level of 98.45.