NEWS

Coronavirus outbreak is spreading outside China, as many cases have been reported in Italy, South Korea. Safe haven assets gains, including CHF. Meanwhile it looks the SNB has intervened on currencies market.

Industry and tourism sectors in Switzerland are bracing themselves for a possible economic impact of the coronavirus epidemic spreading from China, which is one of the biggest trading partners for the country. Meanwhile, the euro exchange rate continues to fall and is currently reaching a value of EUR CHF 1,067 which is close to the recently reached 3-year low.

The euro exchange rate fell to the lowest point since October on February 7th, Friday, as German industry data noted the biggest decrease in a decade, meanwhile US Dollar has had good run after positive employment figures.

Euro Franc exchange rate has fell down for a second day in a row as safe-haven assets are not popular among investors who choose riskier attitude.

The EUR CHF exchange rate continues to fall and has reached a new low in the past three years. The Swiss National Bank continues to try to counter this with negative interest rates and interventions on the foreign exchange market.