As expected, the Swiss National Bank raised its policy rate by 75 basis points to 0.50 percent from -0.25 percent. The franc fell against its major counterparts after the decision.

The franc was trading at 149.82 against the yen, 0.9573 against the euro, 1.0938 against the pound and 0.9725 against the greenback around 3:35 am ET.

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