The Swiss Franc has recorded for a second day straight an all-time high against the American Greenback. A bearish outlook for the US monetary policy continued to weaken the American Dollar and hence dropped in value against major currencies. It is possible that the Swiss Franc was also boosted by its safe haven nature being boosted from fears of retaliation by terrorist groups following the death of Osama bin Laden. The USDCHF pair dropped as low as 0.8618 but shortly after it bounced back to 0.8644.
The Swiss Franc was challenged yesterday following the announcement of weak PMI and retail sales figures data and also from the US Dollar rallying upon the death announcement of Osama bin Laden. Later on the day the Dollar capped its gains as mixed emotions were developed in the market fearing terrorists could strike back.