Swiss Franc Higher As Covid Concerns Weigh
December 31 2021 - 1:30AM
RTTF2
The Swiss franc appreciated against its major counterparts in
the European session on Friday amid safe-haven status, as investors
worried about rising coronavirus cases across the globe and its
potential impact on the economy.
The death toll from COVID-19 exceeded 1 million in Eastern
Europe on Thursday.
Russia has overtaken Brazil for the world's second-highest
Covid-19 deaths, following the U.S.
France reported over 200,000 cases for the second consecutive
day, while the number of daily Covid-19 infections reached another
record high in the U.K.
Stock markets in Italy, Germany, and Spain remain closed, while
those in France and the U.K. trade only half-day on account of New
Year's Eve.
The franc jumped to 126.20 against the yen, a level unseen since
2015. On the upside, 128.00 is possibly found as its next
resistance level.
The franc climbed to a 1-1/2-month high of 0.9120 against the
greenback, 6-1/2-year high of 1.0332 against the euro and a 4-day
high of 1.2297 against the pound, following its early lows of
0.9148, 1.0349 and 1.2355, respectively. The franc is seen finding
resistance around 0.90 against the greenback, 1.02 against the euro
and 1.20 against the pound.
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