Early trade in New York: Swiss franc rises to record high

27 May, 2011

The euro fell to a record low against the Swiss franc on Thursday as earlier comments from Eurogroup President Jean-Claude Juncker raised doubts about whether the IMF would release the next aid tranche for Greece. It was the latest in a series of record lows against the safe-haven Swissie that have come amid heightened anxiety over Europe's sovereign debt crisis.
The euro also surrendered most of its gains against the US dollar, after earlier climbing above $1.42 on a news report that China is interested in buying bailout bonds for Portugal. The euro fell as low as 1.22045 Swiss francs on electronic trading platform EBS, and last traded down 0.6 percent on the day at 1.2223 francs. It also hit a 2-1/2-month low against sterling. Against the dollar, the euro changed hands at $1.4117, up 0.2 percent on the day. The US dollar fell 0.8 percent to 81.34 yen, after hitting a session low of 81.15 on EBS, hurt by disappointing US economic data.

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