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Swiss Franc Slides Against Majors

The Swiss franc weakened against the other major currencies in the early European session on Friday.

The Swiss franc fell to nearly a 1-year low of 1.0119 against the U.S. dollar and a 1-1/2-month low of 1.2563 against the pound, from early highs of 1.0069 and 1.2498, respectively.

Against the euro and the yen, the franc edged down to 1.0719 and 109.39 from early near 5-month highs of 1.0686 and 109.81, respectively.

If the Swiss franc extends its downtrend, it is likely to find support around 1.02 against the greenback, 1.28 against the pound, 1.08 against the euro and 105.00 against the yen.

by RTT Staff Writer

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