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Swiss Franc Drops Against Majors

The Swiss franc weakened against the other major currencies in the early European session on Thursday.

The Swiss franc dropped to more than a 2-month low of 1.0989 against the euro and more than a 1-month low of 0.9865 against the U.S. dollar, from early highs of 1.0965 and 0.982, respectively.

Against the pound, the franc fell to a 4-week low of 1.2962 from an early high of 1.2912.

The franc edged down to 104.78 against the yen, from an early high of 105.13.

If the franc extends its downtrend, it is likely to find support around 1.11 against the euro, 0.99 against the greenback, 1.36 against the pound and 101.00 against the yen.

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