Traders Seek Safety of Swiss Franc

The Swiss franc ticked up today after investors had found renewed interest in currencies considered to be safe. So happens, the Swissie is one of such currencies. The flight to safety was caused by concerns about potential default in Greece.
The threat of default in the indebted Eastern European country forced investors to seek safer assets, making the franc an attractive investment. The Swiss National Bank will conduct policy meeting on Thursday and may react to the rise of the Swissie by making the monetary policy even looser. Yet analysts argue that the central bank will have hard time fighting the forces of the market that propel safe currencies higher.
USD/CHF fell from 0.9321 to 0.9273 as of 9:38 GMT today. EUR/CHF ticked down from 1.0481 to 1.0451, reaching the daily low of 1.0402.

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