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 , the pair slipped over daily basis to trade around 1.1410 and recorded a high of 1.1614 a low of 1.1380.
Moreover, the dollar index, which tracks the dollar's movement versus a basket of major currencies, rose to a high of 74.57 compared with the day's opening at 74.15.
Later today, U.S. ISM manufacturing is expected to contract in August to 48.5 from 50.9 a month earlier.
On the other hand, the Japanese yen slumped against the dollar amid expectations that BoJ may intervene in FX market to halt the yen's rally.
Concerning the USD/JPY, the pair advanced over 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 the dollar, the pair retreated over daily basis after manufacturing sector's performance contracted for the second consecutive month, as the U.K manufacturing gauge contracted to 49.0 from 49.4.
Meanwhile, the sterling is trading around 1.6210, recording the intraday high at 1.6269 and the intraday low at 1.6193.
The trading range for today is among key support at 1.6000 and key resistance at 1.6500.