During early deals on Wednesday, the Swiss franc showed weakness against the US dollar, the European currency and the British pound. The franc declined to a 12-day low against the dollar and a 2-day low against the pound. On the other hand, the Swiss currency climbed to a 5-day high against the Japanese yen. Against the US dollar, the Swiss franc edged down during early deals on Wednesday. At 3:10 am ET, the franc touched a 12-day low of 1.1850, compared to 1.1760 hit late New York Tuesday. If the Swiss currency falls further, 1.218 is seen as the next target level. The dollar-franc pair is currently trading at 1.1826. The Swiss franc that closed Tuesday's North American session at 1.4771 against the European currency gained ground after hitting a 2-week low of 1.4729 during today's early Asian deals. At 3:10 am ET, the franc declined to 1.4817 against the euro. The euro-franc pair is currently trading at 1.4789 with 1.509 seen as the next target level. Against the British pound, the Swiss franc traded down during Wednesday's early deals. At 3:10 am ET, the franc slipped to a 2-day low of 1.6675, compared to Tuesday's closing value of 1.6528. On the downside, 1.703 is seen as the next target level for the franc. UK Government net reserves fell by USD 6 million in February, bringing the end-February total to USD 27.84 billion, the HM Treasury said today. This compares with USD 166 million decline to USD 27.85 billion recorded at end-January.

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