Ahead of the U.S open, the Swiss franc has fallen to its lowest level against the euro in more than two years as relative calm over North Korea eases demand for perceived safe-haven currencies.
CHF fell as much as half a percent to €1.1552 in morning trade in London. This is its lowest level since Jan. 15, 2015, when the Swiss National Bank (SNB) dropped the franc’s “cap” against the euro.
CHF is threatening to weaken even further as long as the United States continues to favour a diplomatic solution in the standoff with North Korea.
The franc falls more versus the EUR than versus the U.S. dollar, with investors cautious before a U.S. Federal Reserve decision Wednesday.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Dean Popplewell
He has a deep understanding of market fundamentals and the impact of global events on capital markets.
He is respected among professional traders for his skilled analysis and career history as global head
of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean
has played an instrumental role in driving awareness of the forex market as an emerging asset class
for retail investors, as well as providing expert counsel to a number of internal teams on how to best
serve clients and industry stakeholders.
Latest posts by Dean Popplewell (see all)
- Euro zone bond yields sink as German manufacturing slows - 24 July 2019
- How Boris Johnson Plans to Deliver Brexit in 100 Days - 24 July 2019
- Weak PMI’s Sink EUR - 24 July 2019