Swiss Franc Falls on Ukraine Peace Deal Hopes
The Swiss franc falls to a two-and-a-half-week low against the euro and the dollar as hopes for a Ukraine peace deal reduce demand for safe-haven assets.
The Trump administration said it had constructive talks with Ukraine in Geneva on Sunday, saying the two sides have created a modified plan for ending the war with Russia. "We have been here several times before, but it seems like the pressure of sanctions has Russia slightly more interested in a peace deal than usual," ING analyst Chris Turner says in a note.
The mood music is cautiously optimistic, he says. The euro rises to a high of 0.9325 francs and the dollar rises to a high of 0.8101 francs, LSEG data show.
Source: Dow Jones Newswires