The Swiss franc dropped today as the traders’ mood improved, giving market participants less incentive to buy the currency as protection against risks associated with stalling global economic growth.
Positive news from China alleviated fears among investors, making them more bold and willing to buy riskier assets with prospects for higher returns. Consequently, this made safe currencies, like the franc, less attractive. Additionally, comments from Swiss policy makers about excessive value of the currency reduced the appeal of the franc even more.
USD/CHF gained from 1.0021 to 1.0077 and EUR/CHF rose from 1.0880 to 1.0928 as of 14:40 GMT today.
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