Euro hits lifetime low vs Swiss franc

The euro hit a lifetime low against the Swiss franc on Tuesday as the Swiss currency gained broadly due to safe-haven demand triggered by mounting concerns about the U.S. and global economic recovery.

The euro EURCHF= fell as low as 1.2898 francs, according to traders citing electronic trading platform EBS, before pulling back to 1.2917 by 0.920 GMT.

Traders in London said that stop-loss sell orders under 1.2920 francs had accelerated the euro's slide, while the dollar's break under a key barrier of 1.02 francs, to hit its lowest since mid-January, also added the the Swiss franc's upward momentum. Read more

News - August 2010