Swiss franc continues to strengthen

NEW YORK: The Swiss franc continued to strengthen against both the euro and the dollar on Wednesday after the Swiss finance minister said it was for the Swiss National Bank to decide whether it wants to introduce an exchange rate target.

The euro fell to 1.1390 Swiss francs on electronic trading platform EBS from the 1.1464 francs it traded at before a government press conference began. The session low is still at 1.12248 francs.

The euro record low of 1.0075 francs was touched on August 9.

The dollar was last at 0.7888 francs on EBS compared with 0.7926 francs before the press conference began. The session low on Wednesday posted at 0.78250 francs.

The dollar's record low against the Swiss franc of 0.70676 francs was reached on August 9.

Copyright Reuters, 2011