The Swiss franc hovered near record highs against the dollar and euro in Asia on Tuesday, having surged on the back of a global stock market rout as a crisis of confidence gripped investors.
The Japanese yen also firmed and the U.S. dollar jumped against the euro and commodity currencies as Wall Street's biggest selloff since December 2008 prompted a massive flight to safety.
Even U.S. Treasuries soared, despiteStandard & Poor's downgrade of the United States' prized triple-A credit rating, a move that unsettled investors already worried about festering debt problems on both sides of the Atlantic.
"We're in a skittish market and the market is looking for a some sort of circuit break. Chinese data today might potentially do it," said Grant Turley, senior currency strategist at ANZ in Sydney.
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Image Source | Getty Images Swiss Francs |
Even U.S. Treasuries soared, despiteStandard & Poor's downgrade of the United States' prized triple-A credit rating, a move that unsettled investors already worried about festering debt problems on both sides of the Atlantic.
"We're in a skittish market and the market is looking for a some sort of circuit break. Chinese data today might potentially do it," said Grant Turley, senior currency strategist at ANZ in Sydney.
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