The Swiss franc ground higher against the euro on Wednesday, breaking the 1.23 mark for the first time in ten sessions after Tuesday's fairly resilient Swiss export numbers muted voices calling for a swift lifting of the franc-euro cap. The franc has traded in a tight range against the euro since the SNB capped it at 1.20 francs per euro on September 6 after safe-haven buyers nearly pushed it to parity, crimping Swiss exports and threatening to the Alpine economy into recession.
The franc rose 0.4 percent against the euro compared to the New York close, trading 1.2296 francs per euro by 0800 GMT. The franc was stable against the dollar at 0.9143 francs per dollar.