US dollar fell to a 10-year low against the Swiss franc

The dollar fell today as confidence in the US economy slumped, prompting investors to abandon US assets in favor of safe havens, including the Swiss franc, the yen, the euro, and gold.

Wall Street in New York witnessed a sell-off yesterday, reversing significant gains in the previous session, driven by US President Donald Trump’s announcement that he would suspend the implementation of tariffs on dozens of countries, according to Reuters.

Long-term US Treasury bonds are also experiencing heavy selling, putting 10-year yields on track for their biggest weekly jump since 2001.

“There has been a strong sell-off in US markets, with buying moving towards traditional safe haven assets as the dollar loses its appeal,” said Chris Weston, head of research at Pepperstone.

The dollar fell 1.2% to 0.81405 Swiss francs for the first time since January 2015, extending its nearly 4% decline on Thursday.

The US currency fell 1.1% to 142.88 yen, its lowest level since September 30.