Swiss Franc Gains on Tensions in Libya

The Swiss franc jumped today, rising to the highest level in three weeks versus the US dollar, as the tensions in Middle East intensified, driving investors to the safer assets.

Muammar al-Gaddafi, the leader of Libya since 1969, renounced rumors that he has fled from the country, engulfed in the protests. The spokesman of Ban Ki-moon, the Secretary-General of the United Nations, said that the Secretary-General was “outraged at press reports that the Libyan authorities have been firing at demonstrators from warplanes and helicopters”.

USD/CHF dropped from 0.9465 to 0.9399 today as of 16:04 GMT after falling earlier to 0.9380, the lowest level since February 2.

If you have any questions, comments or opinions regarding the Swiss Franc,
feel free to post them using the commentary form below.