Swiss Franc Advances to One-week Highs Against Dollar Amid Escalating Geopolitical Tensions

The Swiss Franc rallied versus most of its rivals, jumping to a one-week high against the U.S. dollar amidst rising geopolitical tensions stemming from the Korean Peninsula.

The pair USDCHF plunged more than 0.7 percent in Asian trading session to trade near the lowest level in one week at 0.96688 franc. The currency recovered a little bit following a retreat to 0.96566 – its weakest since August 02nd as geopolitical tensions have ramped up.

In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

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