Friday, January 18, 2019
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swiss franc

swiss franc weakens versus euro as jordan names snb presi

the swiss franc fell as the government named interim chairman thomas jordan the full-time head of the swiss national bank, ending concern a new leader would ease the policy of limiting the currency’s strength.

the franc declined the most in a week against the euro after jordan was formally appointed president at a government meeting today in bern. the snb imposed a cap of 1.20 francs per euro in september to protect exporters as investors sought the currency as a haven from europe’s debt crisis.

swiss franc declines versus high-yielding peers as risk appetite improves

the swiss franc weakened against higher-yielding currencies as optimism the u.s. recovery is gaining strength damped demand for haven assets.

switzerland’s currency depreciated against 12 of 16 major peers tracked by bloomberg, falling most against the new zealand dollar and the south african rand. the franc climbed to the strongest level in six weeks against the euro yesterday after the swiss national bank held the currency’s trading cap at 1.20 per euro. swiss growth will almost stagnate next year, the kof institute said today.

can anything stop the swiss franc?

the swiss franc just won't quit. the currency jumped more than 2% against the euro and the u.s. dollar wednesday after the swiss government announced a stimulus package that was smaller than investors had anticipated.

while the currency's strength diminished in august, it is still up 9% against the euro and 13.5% against the dollar so far this year.

franc weakens to one-month low against euro amid negative-rate speculation

the swiss franc reached a one-month low against the euro after a lawmaker said a government panel is considering using negative interest rates to combat the currency’s appreciation.

the franc declined versus 14 of its 16 major counterparts after finance minister eveline widmer-schlumpf said negative interest rates and capital controls “are issues which are being examined” by a committee looking at ways to counter the currency’s strength. the statement added to speculation the swiss national bank will adjust the franc’s cap at 1.20 per euro at its policy meeting on dec. 15.

swiss franc depreciates on speculation snb will take steps to curb gains

the swiss franc weakened against the dollar and the euro on speculation the central bank will take further steps to curb the currency’s appreciation.

the franc declined against most of its 16 major peers tracked by bloomberg. finance minister eveline widmer-schlumpf said yesterday she’s “concerned” about the franc’s strength and that the government supports all swiss national bank measures to weaken the currency. the snb has said policy makers are assessing various options to that end, including a temporary currency peg to the euro.

swiss pledge unlimited currency purchases

the swiss national bank is “aiming for a substantial and sustained weakening of the franc,” the zurich-based bank said in an e-mailed statement today.

swiss franc tumbles on reports central bank plans to set target range for euro exchange rate

the swiss franc tumbled monday following reports that the swiss national bank is planning to set a temporary target range for the currency’s exchange rate with the euro.

swiss franc heads for record weekly gain versus euro on u.s. jobs concern

the franc was bound for a record weekly gain against the euro before data economists say will show job growth in the u.s. slowed last month, spurring demand for the perceived safety of the swiss currency.

the franc strengthened against all 16 major peers tracked by bloomberg for a third day as stocks slumped. a labor department report may show u.s. job growth decelerated in august, with non-farm payrolls climbing 68,000 last month, from a 117,000 increase in july, according to the median estimate of 86 economists surveyed by bloomberg.

swiss franc slide continues; yen hovers near record

the swiss franc fell sharply against the euro for a second session on friday a day after the swiss national bank said it may peg the franc to halt its rally, though many analysts said such a move was unlikely.


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