Franc Drops as Traders Feel No Need for Safe Haven

The Swiss franc was falling for the whole week and continued to do so today as sings of growth in the countries of the European Union reduced the demand for the currency as a safe haven.
The eurozone economy expanded 0.3 percent in the second quarter of 2013, beating the forecast of 0.3 percent. France’s and Germany’s economies grew more than was predicted too. The signs of growth made investors less attracted to the safety of the franc, which experienced weakness also due domestic fundamentals.
USD/CHF rose from 0.9326 to 0.9355 and EUR/CHF advanced from 1.2371 to 1.2410 as of 13:16 GMT today.

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