Swiss Franc Falls To Weakest Level Against Euro Since January

By Joseph AdinolfiMarketWatch Pulse

The franc fell to its weakest level against the euro Friday since the Swiss National Bank abandoned its peg to the euro back in January -- a decision which triggered unprecedented volatility in the currency market. The euro strengthened after a reading on German consumer-price inflation was in-line with economists' expectations. Output by Italian manufacturers also improved in July, official data showed. The euro appreciated 0.5% to 1.1037 francs. Policy makers from the Swiss National Bank are scheduled to meet next week. The franc surged against the euro on Jan. 15 after the SNB surprised the market with its announcement. At one point, the franc strengthened by as much as 30% against the euro.

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