Dollar extends gains vs Swiss franc on Egypt news
NEW YORK |
NEW YORK Feb 10 (Reuters) - The dollar extended gains against the Swiss franc on Thursday, climbing to its highest since Jan. 13 after Egyptian Prime Minister Ahmed Shafiq told Britain's BBC that President Hosni Mubarak may step down.
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"You would expect to see some dollar strength from the resignation, if it happens, of President Hosni Mubarak as it will most likely raise political instability in Egypt and the Middle East," said Joseph Trevisani, chief market analyst at FX Solutions in Saddle River, New Jersey.
The dollar was last at 0.9687 francs on electronic trading platform EBS CHF=EBS, up 1.2 percent on the day, after going as high as 0.9700 francs. (Reporting by Nick Olivari; Editing by James Dalgleish)
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