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The Swiss Franc Hits its Lowest Since December

24 Heures.

On Monday the franc went as low as 1.0825 to the euro, the lowest since early December last year.

Swiss-franc

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According to some experts, the weaker franc can be partly explained by the market activities of the Swiss National Bank (SNB). The cantonal bank of Thurgau said that the SNB appeared to be targeting a weaker franc ahead of the Dutch elections on Wednesday. Adding that they think an exchange rate of around 1.085 against the euro is possible.

At the same time, the US dollar, rising because of potential future interest rate hikes (the US fed raised its rate by 0.25% on Wednesday), could weigh on the franc.

The SNB however, did not wish to comment on the subject but will publish a report on the economy and monetary situation today.

By Thursday it had strengthened to 1.073 however, according to Bloomberg.

More on this:
24 Heures article (in French)  – Take a 5 minute French test now

 

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