The Swiss franc fell against the euro and the dollar on Tuesday as global markets stabilised following the recent patch of volatility, prompting less demand for safe-haven currencies. The franc fell 0.6 percent against the dollar to trade at 0.9693 compared to the New York close. The franc fell 0.4 percent against the euro to 1.2502.
St. Galler Kantonalbank analysts said they expected the franc to trade between 1.24 and 1.26 per euro for the time being. The franc fell to a two-month low against the euro last Wednesday after Swiss National Bank chief Thomas Jordan declined to rule out negative interest rates and said policymakers could adjust the currency cap if necessary.
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