Daily Forex News

Extending Asian session’s downtrend, the Swiss franc plummeted to a new multi-week low against the euro during early European deals on Wednesday after the Swiss and Hungarian central banks announced that they are setting up a temporary EUR/CHF swap arrangement. The Swiss franc also slipped to an 8-day low against the pound and a 2-day low against the dollar.

Wednesday, the dollar fell to an 8-day low against the British pound as market players look ahead of the U.S. Federal Reserve’s policy decision later in the day. The dollar also showed weakness against the European currency, but it strengthened to a 2-day high against the Swiss franc.

Wednesday in Asia, the Swiss franc fell to an 8-day low against the British pound. The franc also traded down against the euro, while it advanced against the yen and the dollar.

Wednesday morning in Asia, the US dollar edged down against the currencies of Europe, UK and Switzerland. Against the yen, the dollar gained in early trading but reversed direction around 7:10 pm ET.