After hitting a record low, the American dollar recovered slightly against the Swiss franc on Monday, following news that Washington lawmakers have agreed on a deal to raise the US debt limit.
The greenback was trading at around 0.79 francs on foreign exchange markets.
The dollar is not expected to regain much ground against the strong Swiss currency however, as many analysts believe that credit ratings agencies could downgrade U.S. government debt as early as this week.
Swiss Economy Minister Johann Schneider-Ammann said over the weekend that the franc’s strength against the euro and the dollar is more than a temporary phenomenon. in Switzerland.
He warned of “extremely tough years” ahead for Swiss exporters and the tourism industry.
