After a period of indecision since the New York session on Tuesday afternoon, the European currency resumed its late May sell-offs against the Swiss franc in early deals on Wednesday.
The common currency fell to a 2-day low of 1.2367 against the Swiss franc around 6:50 am ET, depreciating a 0.12 percent from Tuesday's close of 1.2384.
The next downside target for the currency cross is visible around the 1.2330 area, its Monday's low and a move below that mark could set its weakest since May 9.
The common currency also shed gains against the yen, falling back to below the key 130.0 level around 6:30 am ET. The pair was trading at 129.94 around 6:55 am ET, just about testing yesterday's bottom level.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.