Safe haven hits record strength against the US dollar

The Swiss franc, regarded as a safe haven by investors, appreciated sharply on Friday following Israel's attacks on Iran, which announced its intention to retaliate. +Get the most important news from Switzerland in your inbox The surge in the value of the Swiss franc is likely to further complicate the task of the Swiss National Bank (SNB), which is anxious to prevent its currency appreciating too much. Against the dollar, the franc strengthened to 0.8082 USD/CHF in the early hours of the morning - a record level. + Switzerland should prepare to return to negative interest rates Shortly before 11am, the Swiss currency eased slightly against the greenback, trading at USD/CHF 0.8124. The movement was similar against the euro, the currency pair having hit a low of 0.9305 EUR/CHF on Thursday night, but still well off the low of 0.9234 EUR/CHF reached at the beginning of April following the trade war launched by Washington. At around 11am, the franc was easing to 0.9368 to the euro. + ...