Swiss franc falls

31 Mar, 2011

The Swiss franc ticked lower on Wednesday as hawkish central banker comments lifted euro and dollar while a Swiss policy maker struck a more cautious tone. The greenback got a boost from St. Louis Fed chief James Bullard, who urged the US central bank to begin reversing its campaign of monetary easing and the euro was lifted by comments that added to views that the European Central Bank was about to hike interest rates.
The franc dipped against the euro compared to the New York close, trading at 1.3001 per euro at 0649 GMTTraders said the next resistance level was at 1.3030, while the euro saw good support at 1.2930. The franc also fell against the dollar to 0.9238 per dollar, but was still not too far off the all-time high of 0.8963 hit in mid-March.

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