Swiss franc rises versus euro

The Swiss franc rose against the euro on Friday as investors turned wary about moving into riskier assets after stock markets in Asia fell, reflecting the bleak outlook for the global economy. "The Asian markets sold off overnight. We have had three days of a risky asset rally, but this was reversed overnight, boosting the franc," said Credit Suisse forex analyst Martin McMahon.
The franc was trading 0.7 percent stronger against the euro compared to the New York close, at 1.4615 per euro. Against the dollar, the franc was down 0.5 percent at 1.1508 per dollar. "The dollar is also benefiting from deleveraging and we are seeing money coming back into the dollar," McMahon said.