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The Swiss franc ticked down against the euro on Wednesday ahead of the German business climate index, as US investor Warren Buffett's plans to invest in Goldman Sachs eased risk aversion and supported stocks. "The most important factor today is likely to be the Ifo business climate," said Credit Suisse analyst Marcus Hettinger.
"If it falls again, it will probably put pressure on the euro." The franc inched down 0.2 percent against the euro compared to the New York close, trading at 1.5949 per euro. The franc ticked up 0.1 percent against the dollar to 1.0869 per dollar, though the greenback was paring earlier stronger losses after Buffett's Berkshire Hathaway said it would invest $5 billion in Goldman Sachs. "Stock markets are the key driver for the dollar-franc at the moment," Hettinger said. Swiss shares are indicated to rise at the open after financial shares in Asia and US stock futures rose on Buffett's investment plans.

Copyright Reuters, 2008

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