Swiss Franc Drops Versus Euro as UBS Says to Charge for Deposits

The Swiss franc declined against the euro after UBS AG followed Credit Suisse Group AG in saying it will charge bank clients for deposits made in the currency.

The franc declined as much as 0.2 percent to 1.2107 per euro, before trading 0.1 percent weaker at 1.2091 as of 7:29 a.m. London time.

The charges, which will apply from Dec. 21, will be communicated in “coming days,” and depend on individual clients, UBS spokesman Samuel Brandner said in a telephone interview.

The dollar was little changed at $1.2944 per euro, and 82.38 yen. The euro traded at 106.64 yen.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net