The Swiss franc dropped against the U.S. dollar for the fifth consecutive day and fell versus the euro after the four days of the appreciation on the speculation that the central bank will intervene to prevent the currency from advancing further.
The franc reached the record high level yesterday as EUR/CHF traded at 1.4071. The Swiss National Bank has begun selling the currency in 2009 in order to aid the economy and contain the deflation. The bank may continue this policy, but what the exact target level can’t b said at the present time.
USD/CHF rose today to 1.2219 as of 12:23 GMT after opening at 1.1175. EUR/CHF traded at about 1.4018 up from its opening level of 1.4006.
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