Swiss franc falls to seven-month low

The Swiss franc dropped to a near 7-month low against the dollar on Friday, with the US unit broadly stronger after the Federal Reserve said it was raising the interest rate it charges banks for emergency loans. The Fed's announcement late on Thursday it was raising its discount rate by 25 basis points signalled it was beginning to normalise its ultra-loose policy.
Against the euro, the Swissie hit its highest in a week but then eased a touch, though it remained close to the Swiss National Bank's intervention turf. The franc was down 0.1 percent against the euro compared to the New York close, trading at 1.4667 per euro. The franc fell 0.6 percent against the dollar to 1.0886 per dollar.