(Bloomberg) -- The Swiss franc rose to a seven-month
high against the dollar as investors avoided riskier assets and
scaled back so-called carry trades.
Switzerland's currency also gained versus the euro as
investors unwound trades funded by borrowing the franc and the
Japanese yen at their relatively low interest rates. The franc
was also buoyed by a report that showed retail sales in the
Alpine economy rose for a 12 month in May.
Read more at Bloomberg Currencies News
high against the dollar as investors avoided riskier assets and
scaled back so-called carry trades.
Switzerland's currency also gained versus the euro as
investors unwound trades funded by borrowing the franc and the
Japanese yen at their relatively low interest rates. The franc
was also buoyed by a report that showed retail sales in the
Alpine economy rose for a 12 month in May.
Read more at Bloomberg Currencies News
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