Bloomberg News

Schneider Lowers Forecasts for Swiss Franc Versus Euro, Dollar

October 14, 2011

Oct. 14 (Bloomberg) -- Schneider Foreign Exchange cut its forecast for the Swiss franc versus the euro and dollar.

The franc will weaken to 1.33 against the euro by year-end, compared with a previous forecast of 1.19, Stephen Gallo, head of market analysis in London, wrote in an e-mailed note. The Swiss currency will depreciate to 95 centimes per dollar, from an earlier estimate of 86 centimes, he wrote.

The franc was little changed against the euro at 1.2376 at 5:05 p.m. in London. It strengthened 0.6 percent to 89.28 centimes per dollar.

--Editors: Nicholas Reynolds

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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