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7/13, 11:36 AM (Source: TeleTrader)
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Euro drops to 7-year low against Swiss franc

The euro fell on Wednesday, hitting the lowest level against the Swiss franc since January 2015.

In 2015, the Swiss National Bank removed the cap on buying the euro for 1.20 Swiss franc. The decision was the main cause of the currency's flash crash at the time. The Eurozone currency has recently been on a decline, as worries over a possible recession continue to mount.

The euro lost 0.39% against the Swiss franc, to sell for 0.98185 at 11:35 am CET, while trading flat against both the US dollar and the British pound at 11:40 am CET, going for 1.00369 and 0.84440 respectively.

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