(Bloomberg) -- The Swiss franc dropped to a record
low versus the euro as speculation Switzerland's policy makers
will lag behind the European Central Bank in raising interest
rates prompted investors to pursue so-called carry trades.
The franc fell with the yen as investors favored higher
yielding currencies from the New Zealand dollar to the South
African rand. The currency used by 13 European nations benefited
as investors borrowed in francs to fund investments in the higher
yielding euro, which last week had the biggest weekly gain versus
the yen since the start of April.
Read more at Bloomberg Currencies News
low versus the euro as speculation Switzerland's policy makers
will lag behind the European Central Bank in raising interest
rates prompted investors to pursue so-called carry trades.
The franc fell with the yen as investors favored higher
yielding currencies from the New Zealand dollar to the South
African rand. The currency used by 13 European nations benefited
as investors borrowed in francs to fund investments in the higher
yielding euro, which last week had the biggest weekly gain versus
the yen since the start of April.
Read more at Bloomberg Currencies News
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