Swiss Franc declined from its highest level in three months

The Swiss franc fell towards 0.95 against the US dollar, down from a three-month high of 0.94 touched on November 11th.

Swiss currency is under pressure posed by the strength of the US currency, in conjunction with recession fears and hard signals from the Federal Reserve. However, hawkish policy signals from the Swiss Bank supported the franc staying above the 3-1/2 year low of 1.01 on November 3rd.