Forex
Swiss National Bank holds rate at 0%, USD/JPY hits three-week high
The Swiss National Bank left its policy rate unchanged at 0%, as widely expected, while USD/JPY climbed to a three-week high above 158.
The yen's move came alongside broader dollar strength that traders linked to rising US Treasury yields.
For beginners A central bank's policy rate is the benchmark cost of money in its economy; a decision that matches expectations usually barely moves the currency. Currency pairs still react to differences in bond yields between countries — a currency backed by faster-rising yields tends to get more support.