The Swiss franc was generally weak today (though managed to gain on the Japanese yen) as the conflict between the European Union and Switzerland intensified.
The conflict between the EU and Switzerland escalated as Switzerland is planning to ban Swiss shares from EU exchanges. That is retaliation to EU’s threat to end its stock market equivalence to Switzerland. And the reason for all that mess is the agreement that should provide Switzerland access to EU’s single market, which faced political resistance in Switzerland.
USD/CHF climbed from 0.9753 to 0.9776 as of 13:34 GMT today. At the same time, CHF/JPY gained from 109.84 to 110.08, though retreated from the daily maximum of 110.30.
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