020 7898 0500- The Swiss franc had a poor start to the week as it continued to weaken. This led to it reaching two-week lows against the euro and the US dollar amid speculation that the Swiss National Bank (SNB) was unofficially targeting a fresh trading corridor for the Swiss currency against the euro. The euro has been freely floated against the Swiss franc since Switzerland’s central bank scrapped its three-and-a-half year old 1.20 euro cap. Monday saw the US dollar up over 1% and the euro up almost 1.5% as the franc looks set for a tough week.
- The Australian dollar fell dramatically first thing this morning as the Australian Reserve bank cut interest rates to 2.25%. This isn’t a major surprise as they have often highlighted the fact that they viewed the Australian dollar as overvalued
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.
