The Swiss franc hit a four-year high against the euro on Friday as panicked investors fled from stocks and feared for the global financial system. The franc also gained against the dollar, benefiting from its status as a safe-haven currency during times of economic uncertainty.
The franc rose 1.0 percent against the euro compared to the New York close, trading at 1.5178 per euro, its highest since late 2004. It has eroded major technical support at 1.5340, leaving the euro under even more pressure, analysts at Commerzbank said. The franc was 0.8 percent higher against the dollar at 1.1186 per dollar.
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