Swiss franc rises to six-year high against euro

Bloomberg

The Swiss franc rises to the highest level against euro in more than six years on Monday, as concern over a possible military confrontation in Ukraine boosted demand for the haven currency.
The franc climbed 0.2% to 1.0324 per euro, a level last seen in June 2015. It is poised for a 10th day of gains, the longest streak on record. The advance comes after US ordered family members to withdraw from Kyiv embassy due to “threat of Russian military action.”
The prospect of military conflict is adding adding to concern over Federal Reserve’s hawkish shift, which prompted a sell-off in tech stocks this year. The Fed on Wednesday is expected to signal a March hike in interest rates and balance-sheet reduction later this year to help fight inflation.
The Swiss currency is “likely to remain supported in the near term,” analysts at Barclays Plc said.