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Dollar Hits Record Low Against Swiss Franc

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AFP
April 26, 2011

The euro struck a 16-month high against the dollar and the Swiss franc notched a record high versus the US unit Tuesday amid heightened investor nerves over this week’s busy economic calendar.

The European single currency hit $1.4653 in morning trade, the highest point since mid-December 2009, as many dealers returned from a long holiday weekend. It later stood at $1.4619, compared with $1.4572 late in New York on Monday.

The dollar meanwhile tumbled to an all-time low point of 0.8745 Swiss francs.

Investors moved to adjust positions ahead of the US Federal Reserve’s two-day policy meeting, which was to open later on Tuesday, dealers said.

The central bank’s Federal Open Market Committee is widely expected to maintain interest rates at between zero and 0.25 percent, where they have stood since December 2008.

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This article was posted: Tuesday, April 26, 2011 at 9:15 am





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