Forex News: Swiss Franc Weakens Against Majors

Swiss Franc Weakens Against Majors

(RTTNews) - The Swiss franc fell against its major counterparts in the New York session on Friday, as U.S. stocks rallied after a decline in the previous session.

Signs that the U.S. may avert a looming government shutdown lifted sentiment.

Senate Democratic leader Chuck Schumer announced on Thursday he's ready to start the process of considering a Republican-led government funding bill that has fiercely divided Democrats.

While Democrats oppose the bill, Schumer argued allowing President Donald Trump to "take even much more power via a government shutdown is a far worse option."

The franc touched 0.8864 against the greenback and 1.1469 against the pound, setting 8-day lows. The currency may challenge support around 0.90 against the greenback and 1.16 against the pound.

The franc declined to near an 8-month low of 0.9662 against the euro. If the currency falls further, it is likely to test support around the 0.98 region.

The franc retreated to 167.55 against the yen, from an early 2-day high of 168.55. The currency is poised to challenge support around the 162.00 level.

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