The Swiss franc advanced against majors on jitters in markets after the release of worrying manufacturing data from major economies and as the Swiss National Bank stopped announcing further monetary interventions to halt the franc's rally.
Despite the several interventions by the SNB to curb the franc's appreciation, the currency is still considered the most favorable safe haven, where the lack of introducing more monetary measures by the SNB increased the appeal of the franc.
Data from Switzerland showed that the economy expanded 0.4% in the second quarter, in line with forecasts, compared with the revised 0.6% in the first quarter, while PMI manufacturing came in at 51.7 better than expectations of 51.0.
The euro led the decline fell after the release lackluster German and euro zone manufacturing reports which added to worries that recovery in the 17-nation region is losing momentum.
European manufacturing recorded contraction of 49.0 compared with July's expansion of 50.4, buoyed by the decline in German reading fell to 50.9 in August from the prior 52.0.
Concerning the EUR/CHF pair, it slipped on the daily basis to trade around 1.1410, where it recorded a high of 1.1614 a low of 1.1380.
Moreover, the dollar index, which tracks the dollar movements versus a basket of major currencies, rose to high of 74.57 compared with the day's opening level of 74.15.
Later in the day, U.S. ISM manufacturing is expected to show contraction to 48.5 in August from 50.9 a month earlier.
On the other hand, the yen showed decline against the dollar amid expectations the BoJ may intervene in FX market to halt the yen's rally.
Concerning the USD/JPY pair, it advanced on the daily charts to trade around 77.01 after recording a high of 77.23 and a low of 76.55.
The trading range for today is among key support at 75.25 and key resistance now at 78.80.
Moving to the British pound versus dollar, it dropped on the daily basis after the release of data showing that manufacturing sector contracted for the second month.
U.K., manufacturing gauge recorded contraction of 49.0 for the second month.
Meanwhile, the sterling is trading around 1.6210, where the day's high was recorded at 1.6269 while the low was seen at 1.6193.
The trading range for today is among key support at 1.6000 and key resistance at 1.6500.
