News Column

Swiss Franc Falls Against Majors

May 20, 2014



BRUSSELS (Alliance News) - The Swiss franc dropped against the other major currencies ahead of European deals on Tuesday.

Against the pound, the franc fell to a multi-month low of 1.5030, from an early high of 1.4994. The pair closed yesterday's deals at 1.5002.

The Swiss franc slipped to nearly a 7-week low of 1.2239 against the euro, from an early high of 1.2227. The pair closed yesterday's deals at 1.2231.

Against the U.S dollar, the franc fell to a 5-day low of 0.8938, from an early high of 0.8918. Yesterday's closing quote of the greenback-franc pair was worth 0.8923.

Against the yen, the franc fell to 113.53, from an early high of 113.89.Yesterday's closing value of the franc-yen pair was worth 113.76.

If the franc extends its downtrend, it is likely to find support around the 1.23 against the euro, 0.90 against the greenback, 1.51 against the pound and 112.59 against the yen.



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Source: Alliance News


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