Euro rises to 5 weeks high

LONDON: The euro rose to a five-week high against the Swiss franc on Wednesday, with traders citing talk of a Swiss bank selling the franc against the dollar

Traders also cited talk of central bank buying euros against the dollar, which pushed the euro higher across the board.

The euro rose to 1.2303 francs, its highest since mid-March. It rose past a reported options barrier at 1.2300 francs, with traders citing stop-loss buy orders above 1.2310 francs.

Traders also said there was renewed speculation that the Swiss National Bank may raise its 1.20 franc per euro cap on the Swiss currency. On Tuesday, the SNB declined to comment on the rumours.