Swiss franc gains after Bhutto assassination

Story link: Swiss franc gains after Bhutto assassination

The Swiss franc saw gains against the euro, the US dollar, and most other major currencies on Thursday after opposition leader Benazir Bhutto was assassinated in Pakistan.

The gains came on investor demand for a safe place for their money amid uncertainty after the political killing.

The franc also gained on the dollar on renewed speculation that the Federal Reserve will cut interest rates in the United States again after new data showed that house prices are still falling in the US.

At just past 1 p.m. in New York the Swiss franc was trading at SFr1.1377 to the dollar, at SFr1.6653 to the euro, and at SFr2.2687 to the pound.

The greenback and the pound were also lower in relation to the euro after the news of the assassination of Pakistan’s former prime minister was announced.

The dollar traded at $1.4638 to the euro while it also declined in relation to the pound to trade at $1.9942 to the UK currency and traded at ¥113.6800 to the dollar.

Meanwhile, the pound traded at 73.40p to the euro while it took ¥226.7008 to buy a pound.