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Swiss Franc Weakens Against Majors

The Swiss franc slipped against its major counterparts in the European session on Thursday, as China’s plan to cut tariffs on U.S. imports bolstered sentiment.

The Swiss franc pared gains to 112.74 against the yen, from a high of 112.90 hit at 1:45 am ET.

The franc weakened to 0.9750 against the greenback, marking an 8-day low.

The franc dropped to 1.2663 against the pound and 1.0724 against the euro, from its early highs of 1.2638 and 1.0705,respectively.

The franc is likely to find support around 111.00 against the yen, 1.00 against the greenback, 1.28 against the pound and 1.10 against the euro.

The material has been provided by InstaForex Company – www.instaforex.com