Swiss franc tracks euro lower

The Swiss franc fell against the dollar, tracking a weakening euro amid signs of increasing stress in euro zone money markets as the single currency slipped to its lowest level in seven weeks against the dollar. The franc held on to solid gains against the euro from the previous session, hovering near three week highs as it oscillated in the 1.20-1.25 francs per euro range it has held since the Swiss National Bank capped the currency against the euro in early September.
"It makes sense that the euro-franc continues to trade above the SNB floor, as the central bank could raise that floor in the case of emergency," said Sarasin foreign exchange analyst Ursina Kubli. The franc fell 0.3 percent against the dollar compared to the New York close, and traded at 0.9224 francs per euro. The franc was marginally lower against the euro at 1.2272 francs per euro.