The Swiss National Bank is attempting to put a "line in the sand" with its first intervention in the foreign-exchange market in more than a decade after previous attempts to weaken the franc failed. Foreign-exchange traders said the Zurich-based central bank intervened twice yesterday, driving the franc down against more than 150 currencies. It fell the most in three months versus the dollar and euro. The franc strengthened as much as 0.3 percent against the U.S. and European currencies today.
The Swiss franc was however little changed against the euro and rose versus the dollar. The Swiss currency traded at 1.5299 per euro as of 7:22 a.m. in Zurich, from 1.5294 yesterday, when it weakened 1.8 percent. The franc strengthened to 1.0955 against the dollar, from 1.0979.
The yen fell the most in three weeks against the euro after a government report showed Japanese investors bought more securities abroad than they sold for a seventh week.
London from 133.23 in New York yesterday, the biggest drop since June 1. It fell to 96.31 per dollar from 95.66. Japan’s currency slid 1 percent to 76.97 versus Australia's dollar and weakened 0.9 percent to 61.83 per New Zealand dollar. The U.S. currency bought $1.3976 per euro from $1.3930.
