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Forex News: Swiss Franc Higher As Covid Concerns Weigh

Swiss Franc Higher As Covid Concerns Weigh

12/31/2021 - 07:30:00 (RTTNews)

(RTTNews) - 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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