Franc at New Record vs. Euro, Counts as Safe Haven

From looking at the recent dynamics of the Swiss franc in the foreign exchange market it can be undoubtedly said that the currency is now treated as a safe haven by the traders. It reached its new historical maximum against the euro today.

Following a strong growth yesterday (more than 1 percent), spurred by the 
non-zero yield for the 6-month Swiss bonds, the Swiss franc touched its new record high level against the single European currency today. The currency didn’t manage to continue the rally after setting its new record and corrected slightly against the euro. CHF continues to be up against the US dollar and the Japanese yen.

EUR/CHF is currently trading near its open level at 1.3033 as of 7:18 GMT; it reached as low as 1.2984 during the early trading session. USD/CHF fell from 1.0315 to 1.0308, while CHF/JPY rose from 81.52 to 81.91 today.

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