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While Greece may have recently seen an aid package agreed, fears regarding its long-term future and that of Spain and Italy persist, with the latter two nations seeing their bond yields hit 14-year highs.
According to Reuters, the value of the euro slipped 1.5 per cent against the Swiss franc to hit a record low of 1.0985 francs.
Niels Christensen, currency strategist at Nordea, told the agency: "A very bleak economic outlook and fears about the eurozone debt crisis are creating risk aversion and the Swiss franc is the number-one safe-haven currency."
Samarjit Shankar, managing director of global FX strategy at BNY Mellon, echoed this sentiment, telling the news provider that the money stands "head and shoulders" above others that could be considered safe havens.
Posted by Greg Secker
