The Swiss franc hovered close to a fresh multi-year low against the euro on Wednesday, as investors stuck to risky positions such as carry trades. The franc remained under pressure, after falling to a new 8-1/2 year low on Tuesday, as rising global stocks bolstered carry trades.
In which low-yielding currencies such as the franc are borrowed to fund investments in higher-yielding assets. The franc was 0.1 percent weaker against the euro at 1.6525 per euro, after falling to 1.6537 per euro in the previous session, the lowest level since August 1998. Against the dollar, the franc was near flat at 1.2144 per dollar.
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