The Swiss franc edged lower against the dollar on Monday, as the US currency recovered ground it had lost in the wake of China's decision to revalue the yuan and despite deadly attacks on tourists in Egypt.
Deadly bomb attacks in Egypt's Sharm al-Sheikh resort on the weekend appeared to have little impact on the Swiss franc, which tends to rise at times of geopolitical tension due to its reputation as a safe haven.
The dollar last traded at 1.2960/65 Swiss francs, from 1.2896/2901 francs in late trading in Europe on Friday. The dollar had dropped to around 1.2750 on Thursday after China said it would abandon the dollar peg on its yuan currency.
The euro was trading at 1.5632/38 francs compared with 1.5637/42 late on Friday.
In its second day of trading since the revaluation, the yuan has stayed on the high side of the new 8.11 per dollar level used as part of the managed float against a basket of currencies.
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