Swiss franc feels heat of rising risk appetite

The Swiss franc is seen drifting further away from potential intervention territory against the euro on Friday after solid US gross domestic product data lent support to investor risk appetite. The franc traded in a fairly tight range in early Friday exchanges, trading at 1.5094 against the euro, down 0.1 percent on the New York close.
But analysts see the franc weakening towards 1.52, away from the 1.50/1.51 area that some have said could trigger intervention from the Swiss National Bank. The franc traded close to NY close levels against the dollar at 1.0184 per dollar after rising 0.7 percent on Thursday as investors sold off the dollar. "The franc has recently stabilised against the euro in the 1.51/1.52 range and that is unlikely to change in response to the data," Gullberg said.