Franc Gains as Unrest in Middle East Spurs Demand for Safety

The Swiss franc gained today, strengthening versus the US dollar for the fourth day and rising against other most-traded currencies, as the worries that the tensions will spread across the Middle East spurred demand for the safe currencies.

The demonstrators in Bahrain demand resignation of Prime Minister Sheikh Khalifa bin Salman al-Khalifa, protesting for the third day. The protests have left at least three people dead. The people are also protesting in Yemen and Libya.

USD/CHF dropped from 0.9592 to 0.9520 today as of 13:47 GMT.

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