The Swiss franc rose to a 4-month high against the dollar on Wednesday as the greenback softened across the board on the back of rising investor risk appetite. The franc remained stuck in a tight range against the euro as SNB board member Thomas Jordan repeated the central bank's commitment to resolutely fight an appreciation of the franc against the common currency.
"At the moment everything is against the dollar, it is not in demand anymore as a safe haven as risk aversion is fading," Unicredit analyst Armin Mekelburg said. The franc rose 0.3 percent against the dollar compared to the New York close, trading at 1.1026 per dollar. The franc was little changed against the euro, trading at 1.5088 per euro. The higher risk appetite had not pushed the traditional safe haven currency franc lower yet, Mekelburg said.
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