(RTTNews) - The Swiss franc plummeted against other major currencies in early European deals on Tuesday. The franc slumped to a 4-day low against the yen and an 11-day low against the euro and the pound.
The Swiss franc slipped to 1.1482 against the US dollar at 3:45 am ET Tuesday. The next downside target level for the franc is seen at 1.155. The dollar-franc pair that closed yesterday's trading at 1.1424 is currently worth 1.1470.
At 3:50 am ET Tuesday, the Swiss franc fell to an 11-day low of 1.6929 against the pound. If the franc weakens further, it may likely target the 1.708 level. The pound-franc pair is presently worth 1.6920, compared to 1.6847 hit late New York Monday.
The Swiss franc that rose against the euro in early Tuesday Asian deals moved sideways in late trading, but the franc fell sharply in early European session. As of now, the franc is trading at an 11-day low of 1.3990 per euro with 1.400 seen as the next target level. The euro-franc pair was quoted at 1.3961 at yesterday's close.
The Swiss franc plunged to a 4-day low of 79.46 against the yen at 3:40 am ET Tuesday. The next downside target level for the franc is seen at 78.0. The franc-yen pair is now worth 79.5, down from yesterday's close of 80.21.
The Bank of Japan today decided to provide loans to financial institutions to support strengthening the foundations for economic growth. Also, the central bank maintained its key interest rate at a record low of 0.10%.
Looking ahead, the U.K. CPI for May and DCLG house prices for April, Euro-zone trade balance for April, German and the Euro-zone ZEW economic sentiment index for June are expected to influence trading in the upcoming hours.
The U.S. export & import price indexes for May, the results of the New York Federal Reserve's empire state manufacturing survey for June, Treasury Department's report on the flows of financial instruments into and out of the U.S. for April and the NAHB housing market index for June have been slated for release in the North American session.
