The Currency Converter

Swiss Franc Currency Update

November 22nd, 2010

The Swiss Franc remained generally on the defensive against the Euro on Friday, but did find some support under 1/3620. The Franc also secured support close to parity with the U.S Dollar, with the greenback weakening back towards 0.9920 in New York. Defensive demand for the Franc as a safe haven remained lower, as markets remained confident that a support package for Ireland would be agreed. It may prove more difficult for the Euro to gain sustained relief, given underlying fears surrounding the region, with Swiss economic confidence also weaker.

Written by Adam Solomon

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