The Swiss franc hit a record high on Wednesday against the dollar as worries about an economic slump in the United States weighed on the greenback and the Swiss National Bank applauded the franc's recent rise.
The franc was 0.4 percent stronger against the euro compared to the New York close, trading at 1.6106 per euro, the highest level in 10 months and some 4 percent above its all-time low hit in October last year.
Against the dollar, the franc surged 0.7 percent to 1.0849 per dollar, hitting a fresh record high at 1.0839 earlier, as weak US economic data and Citigroup's first ever quarterly loss heightened concerns about a recession in the US.
Comments
Comments are closed.