Markets
Dollar rises 1 percent on day versus Swiss franc
LONDON : The dollar rose 1 percent on the day versus the Swiss franc on Monday as risk aversion stemming from European p
LONDON: The dollar rose 1 percent on the day versus the Swiss franc on Monday as risk aversion stemming from European policymakers' failure to calm worries about a Greek default fuelled broad demand for the greenback.
The Swiss National Bank's action to cap gains in the euro/Swiss pair and expectations that the Federal Reserve will not resort to expanding its balance sheet also provided a short-term boost to the dollar.
The greenback rose to a session high of 0.8847 francs on trading platform EBS.
Copyright Reuters, 2011
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