The Swiss franc dropped slightly against the euro today before returning to its opening price as Philipp Hildebrand, the Chairman of the central bank, said that the further rise of the franc will be contained while the policy makers are “acting decisively to prevent an excessive appreciation”.
The Swiss currency may profit from the Greece’s troubles as the weakening euro may increase the demand for the franc as the safe currency. And the appreciation may negatively impact the appeal of the currency as a safe haven.
EUR/CHF traded at about 1.4342 as of 11:05 GMT near the opening level of 1.4341 and after reaching its lowest level of 1.4332.
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