Swiss franc, yen weaker

The yen and the Swiss franc weakened again Wednesday several central banks in Europe and North America announced plans to inject more liquidity into the banking system, leading investors to seek out more risk in carry trades on the theory that banks will be more willing to lend money and that the US economy will not enter a recession.

The yen was the only currency the Swiss franc managed a gain against, while it traded at SFr1.1347 to the US dollar, at SFr1.6680 to the euro and at SFr2.3224 to the pound.

The South African rand and the Australia and New Zealand dollars all added at least 2.7 percent versus the yen on the session, as it took ¥98.9943 to buy an Australian dollar in early afternoon trade in New York.

At the same time, the yen traded at ¥112.1050 to the dollar, at ¥164.7944 to the euro, at ¥229.4507 to the pound, and at ¥98.7970 to the Swiss franc.

Meanwhile, the US dollar traded at $1.4700 to the euro and at $2.0467 to the pound in early afternoon trade in New York.

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