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Swiss Franc Weakens Against Majors

Reversing direction, the Swiss franc slipped against its major rivals in European morning deals on Thursday.

The franc fell further to near a 5-month low of 1.0703 versus the euro and near a 7-month low of 1.5339 against the pound, from early highs of 1.0670 and 1.5257, respectively.

The franc edged down to 0.9816 against the greenback and 127.25 against the yen, off an early high of 0.9767 and a 2-day high of 127.71, respectively.

The next possible downside target for the franc may be found around 126.00 against the yen, 1.075 against the euro, 0.99 against the greenback and 1.55 against the pound.

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