TELETRADER News
9/30/2016, 2:53 PM (Source: TeleTrader)
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Swiss franc weakest currency today

The Swiss franc, widely considered a safe haven by investors, took a dive on Friday, losing out to most of its major peers and becoming the worst-performing currency for the day. The free fall might be due to a possible intervention in the foreign exchange market by the Swiss central bank, the chatter goes, although the body has not yet provided any comments. The Swiss National Bank often tries to put a cap on the currency's strength by exchanging it for euro.

The franc lost 0.74% against the greenback and 0.28% versus the Eurozone's joint currency at 2:47 p.m. CET to go for 1.0871. It shed 0.73% compared with the British pound and 0.62% versus the Japanese yen – another safe haven.

Meanwhile, the New Zealand dollar came out as a top performer today, gaining 0.43% against its counterpart in the United States at 2:49 p.m. CET. It powered higher against most of its peers, rising as much as 1.05% compared with the Swiss franc at 2:50 p.m. CET.

 

Breaking the News / IB