Swiss franc climbs to 1-month high vs euro as hedge funds cut bets

(Reuters) – The Swiss franc rallied to a one-month high against the euro on Wednesday as hedge funds unwound some of their negative bets against the currency and as appetite for risky assets faltered due to the intensifying unrest in Hong Kong. A speech by U.S. President Donald Trump where he threatened to raise tariffs on China and criticised European Union trade policies before a Nov. 14 deadline to decide whether to raise tariffs on European and Japanese carmakers also boosted demand for the negative-yielding Swiss currency.

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