Euro rises 1pc on day versus Swiss franc

LONDON: The euro rose 1 percent on the day against the Swiss franc on Monday, with the franc under pressure on the threat of action by Swiss banks to curb its recent strength and with stocks set for a positive open in Europe.

Banking giant UBS said on Friday it could charge clients a fee on deposits in a bid to discourage them from using some accounts to hoard the safe haven currency during financial market volatility.

The euro was last up 1.1 percent at 1.1820 francs on trading platform EBS. The dollar also rose in thin trade, last up 0.9 percent at 0.8133 francs .

Copyright Reuters, 2011