European session: The Swiss franc fell
The Swiss franc fell against the euro and headed for its biggest three-day decline since the European currency’s 1999 debut on speculation Switzerland will take further action to counter recent gains.
The franc slid for a fourth day versus the dollar after the SonntagsZeitung newspaper said the Swiss government and the central bank are in “intense” talks over setting a target for their currency.
Earlier the euro rose for a third day versus the dollar on speculation a meeting tomorrow between French President Nicolas Sarkozy and German Chancellor Angela Merkel in Paris may result in action to contain the region’s debt crisis.
But later the common currency fell as market reacted to German govt spokesman comments that Tuesday's meeting between Merkel and Sarkozy will not have eurobonds on the agenda.
EUR/USD: the pair holds at $1.4260-$ 1.4330.
GBP/USD: the pair become stronger above a mark $1.6300.
USD/JPY: the pair holds at area of session low Y76.80.
Today attention will be on US Jun Total Net TIC Flows come at 13:00 GMT. According to analysts' outlook Net Long-Term TIC Flows rose to $30.4B after $23.6B in May.