Swiss Franc Falls Amid Credit Suisse Debt Woes
16 Mars 2023 - 03:13AM
RTTF2
The Swiss franc Weakened against other major currencies in the
Asian session on Thursday, as concerns about the debt woes of Swiss
lender Credit Suisse triggered massive sell off in the
currency.
Credit Suisse shares fell nearly 25 percent in the Swiss market
after Saudi National Bank, the bank's largest investor, reportedly
said it would not provide any more funding to the Swiss lender.
Reuters quotes Saudi National Bank's chairman Ammar Al Khudairy
as saying that Saudi National Bank cannot provide the Swiss bank
with more financial assistance, as "We cannot because we would go
above 10%. It's a regulatory issue."
Wednesday, the Swiss franc was retreating from early highs
against its major counterparts.
In the Asian session today, the Swiss franc fell to more than a
1-month low of 142.44 against the yen and a 10-day low of 1.1257
against the pound, from yesterday's closing quotes of 142.82 and
1.1240, respectively. If the franc extends its downtrend, it is
likely to find support around 141.00 against the yen and 1.13
against the pound.
Against the euro and the U.S. dollar, the franc dropped to
1-week lows of 0.9881 and 0.9340 from yesterday's closing quotes of
0.9868 and 0.9327, respectively. The franc may find support around
0.99 against the euro and 0.95 against the greenback.
Looking ahead, Canada final wholesale sales data for January.
U.S. building permits, housing starts, export and import prices,
all for February, and U.S. weekly jobless claims data are due to be
released in the New York session.
At 8:15 am ET, European Central Bank's Monetary policy decision
is due. The central bank has signaled for another 50-basis point
increase on today's meeting.
CHF vs Yen (FX:CHFJPY)
Graphique Historique de la Devise
De Fév 2024 à Mar 2024
CHF vs Yen (FX:CHFJPY)
Graphique Historique de la Devise
De Mar 2023 à Mar 2024