Euro rises after SNB starts buying in Asia
The euro rose off 15-month lows today as the Swiss National Bank sold francs for euros during Asian trading. The euro has been under pressure for the last month hitting lows against a host of major currencies, but took a swift leap as the SNB stepped in.
The euro rose 0.6% against the franc to 1.4730 and ended the session slightly up against the dollar at $1.3711. The euro also rose 0.5% against the yen to 122.91 after hitting a month low of 121.57 last night.
Elsewhere the Australian and New Zealand dollars edged up against the US dollar after hitting four and five month lows yesterday, with the Australian dollar also climbing 1% against the yen. The US dollar rose 0.7% against the franc and 0.7% against the yen to 1.0738 and 89.70 respectively.