BUZZ-Swiss franc rises to 23-week high against the euro

1.0796 is the lowest level since Feb 15

  

* EUR/CHF hits 1.0796 EBS low after falling from 1.0816 (early Europe high)

* 1.0796 is the lowest level since Feb 15 (1.0796 was EBS low that day too)

* Safe-haven CHF buoyed by China equity volatility and Delta variant concerns

* Dovish ECB is helping weigh on the euro

* Risk of SNB FX intervention (selling CHF) is source of support for EUR/CHF

* SNB spent 110 billion francs countering upward pressure on franc last year

(Robert Howard is a Reuters market analyst. The views expressed are his own) ((robert.howard@thomsonreuters.com))


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