The Swiss franc weakened against other major currencies in the European session on Monday amid risk appetite, as investors welcomed stimulus measures in China to support the country's property sector and pondered the outlook for rates.

European sovereign bond yields edged up after ECB Governing Council member Martins Kazaks indicated in a Bloomberg Adria interview that June seems the right moment to start lowering borrowing costs, but future moves will be largely determined by incoming data.

He emphasized that any reduction in rates should be "cautious" and "gradual," and that the process should not be rushed.

Separately, ECB executive board member Isabel Schnabel also warned against back-to-back interest-rate cuts in June and July.

"Based on current data, a rate cut in July does not seem warranted as there is a risk of easing prematurely," she told the Nikkei newspaper.

Elsewhere, U.S. Fed Governor Michelle Bowman said on Friday that she has seen no progress in inflation this year and remains willing to hike rates should progress stall or reverse.

In the Asian trading today, the Swiss franc held steady against its major rivals.

In the European trading, the Swiss franc fell to more than a 1-year low of 0.9895 against the euro, from an early high of 0.9876. The franc may test support near the 0.99 region.

Against the U.S. dollar and the yen, the franc dropped to a 6-day low of 0.9101 and a 4-day low of 171.04 from early highs of 0.9085 and 171.50, respectively. If the franc extends its downtrend, it is likely to find support around 0.92 against the greenback and 167.00 against the yen.

The franc edged down to 1.1556 against the pound, from an early high of 1.1538. The franc had fell earlier to a 5-day low of 1.1557. On the downside, 1.16 is seen as the next support level for the franc.

Looking ahead, Canadian stock markets are closed for Victoria Day holiday.t pound The early 5-day low of 1.1557

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