The Swiss franc gained against the euro and the dollar on Tuesday, as subdued equity markets and renewed concerns about debts in Ireland and Portugal piqued interest in the traditionally safe haven franc. The franc has appreciated more than 10 percent against the euro this year, in part due to concerns about sovereign debts in southern European states.
The franc touched a record high of 1.2763 on September 8, but has since eased against the euro. Underscoring that the eurozone's fiscal concerns were far from over, on Monday credit agency Moody's slashed some debt ratings on Anglo Irish Bank, while in a report on the Portuguese economy. The franc rose 0.3 percent against the euro compared to the New York close, trading at 1.3207 per euro. The franc rose 0.3 percent against the dollar to 0.9826 per dollar.