The Swiss franc climbed today, joining the Japanese yen in a rally, as risk aversion returned to markets. That brought safe currencies back in favor of market participants.
The Asian stock market crashed today, and European stocks did not perform well too. That was a result of the risk-negative sentiment among investors. There were plenty of reasons for traders to be concerned, including the trade disputes between the United States and China, the clash between the European Union and Italy over the Italian budget, and the disagreement between the EU and Great Britain over the issue of the Irish border.
USD/CHF slumped from 0.9900 to 0.9852 as of 10:59 GMT today after attempting to rally to 0.9920 intraday. EUR/CHF declined from 1.1436 to 1.1426, retreating from the daily high of 1.1464.
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Swiss Franc Gains as Safe Currencies Back in Favor
