Currencies News
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The dollar fell for a third day versus the Swiss franc, the longest losing streak in a month, as investors bet the Federal Reserve will take steps to stimulate growth after U.S. employment unexpectedly stagnated in August.
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The Swiss central bank may need to ready its “nuclear weapon” of buying euros as the franc heads for the biggest weekly advance on record against Europe’s single currency.
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This week’s reduction in Brazil’s benchmark interest rate will help curb the appreciation of the real, and economic conditions are in place for further cuts in borrowing costs, Finance Minister Guido Mantega said.
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The Swiss government said all five ruling-coalition parties support measures taken by the central bank to weaken the franc and protect the economy.
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