The Swiss franc was slightly weaker versus the euro and the dollar on Monday, as investors' worries about the health of the US economy eased on the back of robust US home sales.
"Markets are more calm and investors are taking more risk. People are getting out of the franc and moving into currencies that are riskier but have higher returns," said Clariden Leu economist Sandro Baechli. "We expect the Swiss franc to get weaker again in coming months, especiallly versus the euro and the pound," he said.
The franc was at 1.6423 francs per euro, falling slightly from 1.6420 late on Friday. The franc was also trading lower against the dollar at 1.2010 francs per dollar, versus 1.2007 late on Friday. The franc has come under pressure as investors sell low-yielding currencies to invest in higher-yielding assets in so-called carry trades.
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