Swiss Franc Weakens Versus Euro, Dollar as Stock Markets Climb
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The Swiss franc weakened against the dollar and euro after stocks rallied and a U.S. labor market report eased concern that the recovery in the world’s largest economy is faltering, damping demand for safety.
The franc fell against all of its 16 most commonly traded peers as the Stoxx Europe 600 Index climbed 1 percent and the Standard & Poor’s 500 Index advanced 0.9 percent. Initial jobless claims dropped by 27,000 to 451,000 in the week ended Sept. 4, Labor Department data showed today. Jobless benefits applications were projected to fall to 470,000 from a previously reported 472,000 for the prior week.