Dollar falls 1 pct vs Swiss franc, down vs yen

NEW YORK, Sept 13 (BestGrowthStock) – The dollar extended losses on
Monday, slipping 1 percent against the Swiss franc and hovering
near session lows against the Japanese yen.

Midmorning in New York, the dollar was down 1 percent at
1.0092 Swiss francs (CHF=: ) and down 0.3 percent at 83.90 yen
(JPY=: ).

Strong Chinese economic data and new global banking rules
boosted risk appetite, prompting investors who had bought the
dollar as a safe haven to unwind those positions.

But traders said the Swiss franc, also considered a safe
haven, was getting a bid because investors worry that the
sunnier economic outlook may not last.

“What you’ve got is an environment where people are getting
short-term encouragement from recent data but still have
long-term concerns, and that’s why you see some buying of the
Swiss franc and yen,” said Brian Dolan, chief strategist at in Bedminster, New Jersey.
(Editing by James Dalgleish)

Dollar falls 1 pct vs Swiss franc, down vs yen