Ahead of the U.S open, the Swiss franc has fallen to its lowest level against the euro in more than two years as relative calm over North Korea eases demand for perceived safe-haven currencies.
CHF fell as much as half a percent to €1.1552 in morning trade in London. This is its lowest level since Jan. 15, 2015, when the Swiss National Bank (SNB) dropped the franc’s “cap” against the euro.
CHF is threatening to weaken even further as long as the United States continues to favour a diplomatic solution in the standoff with North Korea.
The franc falls more versus the EUR than versus the U.S. dollar, with investors cautious before a U.S. Federal Reserve decision Wednesday.
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Dean Popplewell
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