Euro Climbs to Parity With Swiss Franc for First Time Since July
- Euro may rally further on economy, central bank policies: WF
- Pickup in risk sentiment weighs on havens like franc
Swiss franc and Euro banknotes.
Photographer: Simon Dawson/Bloomberg
This article is for subscribers only.
The euro rose to parity versus the Swiss franc for the first time since July as improved risk appetite and hawkish signals from the European Central Bank helped boost demand for the common currency.
The euro-franc pair climbed as much as 1.2% to 1.00225, the highest since July 5. The pair may reach 1.0265 in the coming two months, according to Wells Fargo strategist Erik Nelson, who cited an improved economic outlook in the euro area as well as central bank policies. The euro was among the the best Group-of-10 currencies versus the greenback, advancing as much as 0.4% to $1.0776, the highest since May.