Oct 31 (Reuters) - The euro fell to a three-week low against the Swiss franc on Wednesday, with some market players citing expectations of increased repatriation flows from deleveraging by Swiss bank UBS as a factor boosting the franc.
The euro fell to 1.2074 francs on trading platform EBS, its lowest level since October 11.
Nomura currency strategist Geoff Kendrick said in a note he expected UBS would shrink both its non-Swiss franc assets and liabilities, but assets were likely to be cut faster.
"As a result CHF buying pressure from the banks is likely to re-start, in our view," he said.
