The Swiss franc ticked lower against the euro on Tuesday as traders shrugged off ongoing geopolitical concerns and sold the safe-haven Swissie. Markets were unfazed by continuing Western military action in Libya, and a strong rise on Wall Street rising on Monday was followed by a 4 percent rise in Japanese stocks on Tuesday after reports of progress in stabilising an earthquake-damaged nuclear plant.
"It's risk on again, and the move is well supported. There will likely be more retracement here for the Swiss franc, but a lot depends on Japan, if some worse news comes out it's risk off again," said a Zurich-based forex trader. The franc was 0.1 percent lower against the euro compared to the New York close, trading at 1.2881 francs per euro at 0825 GMT. The franc was unchanged against the dollar at 0.9044 francs per dollar.
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