The Swiss franc soared to a record high against the dollar on Wednesday as the greenback fell broadly on expectations that the US Federal Reserve will continue to lower interest rates.
Another round of disappointing US economic indicators and the view the Fed was more concerned about growth than rising inflation weighed heavily on the dollar vs the franc, UBS analyst Reto Huenerwadel said. "The dollar broke through key support levels against the franc and into uncharted territory," he said.
By 0730 GMT, the franc rose 0.6 percent against the dollar when compared to Tuesday's New York close, hitting a new all-time high of 1.0684 francs per dollar. The franc also edged higher against the euro, trading at 1.6077 per euro.