NEW YORK: The euro extended gains against the Swiss franc on Tuesday, climbing to a fresh session high.
Data released earlier in the global trading day showed a growing risk of deflation in Switzerland and added to speculation the Swiss National Bank could intervene and raise the floor on the euro/Swiss franc pair from 1.20 francs.
The euro was last up 0.8 percent against the Swiss franc at 1.2421 Swiss francs with the session peak at 1.2426, according to Reuters data, the highest since November 17.
The euro was also bolstered against the Swiss franc in early New York trade on market talk that the Bank of International Settlements was buying euros on behalf of the Swiss National Bank. Both the SNB and the BIS declined to comment.
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