The Swiss franc rose against the dollar and euro on Tuesday as investors moved into the safe haven currency, giving it a boost after recent losses. "I think the main reason is it (the franc) lost a lot of ground yesterday and it's a technical correction," said Sandro Baechli at Clariden Leu.
"It's a technical correction right now and the markets are going to be slightly in the minus so investors are risk averse," Baechli said. The franc has closely reflected swings in stock markets recently as investors take equities as a barometer for risk demand. The franc is seen as a safe haven in times of big risks and high volatility.
The franc was 0.14 percent higher against the euro compared to the New York close, trading at 1.6131 per euro. The franc was 0.58 percent higher against the dollar at 1.0956 per dollar.
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