The Swiss franc firmed on Wednesday and could well test record highs in the coming days, as fresh measures by the Swiss National Bank and the Swiss government to slow the pace of the currency's rise disappointed investors bracing for more drastic steps.
The US dollar, meanwhile, dropped across the board, hurt by sharp losses versus the franc and improved risk appetite, with most commodities higher. Investors sought higher-yielding currencies such as the Australian dollar and Norwegian crown. The euro tumbled more than 2 percent against the franc in volatile trade to hit a low of 1.12248 francs on the EBS trading platform as safe-haven demand for the Swiss currency resumed. It was last at 1.14095 francs, down 0.7 percent. The dollar was down 0.8 percent at 0.78889 francs. The greenback weakened broadly amid a volatile risk appetite environment that on Wednesday turned higher.
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