Swiss Franc's Falls Versus Euro Could be Contained by Strong Swiss Growth
Dow Jones
Aug 14
1238 GMT - The Swiss franc falls to a one-year low against the euro, extending a string of losses over recent days, pressured as high oil prices increase the likelihood of interest-rate rises from other central banks. The prospect of the Swiss National Bank leaving rates at zero and threats of currency interventions have diluted the franc's safe-haven appeal amid the Iran war, Rabobank's Jane Foley says in a note. However, the franc's falls could be limited by Switzerland's strong economic growth, she says. Data Friday showed Switzerland grew 1.5% quarter-on-quarter in the second quarter, outpacing U.K. and eurozone growth. The euro earlier hit a high of 0.9405. Rabobank expects it to reach 0.95 francs in 12 months.
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