Swiss franc plummets

The Swiss franc fell sharply against the euro on Thursday as traders cut short euro positions ahead of Spanish and Italian debt auctions after Portugal's successful debt auction on Wednesday buoyed the single currency. In volatile trading, the franc was also down heavily against the dollar after rising risk appetites boosted equities markets, taking some of the shine off the franc as a safe haven.
The franc fell 0.8 percent against the euro compared to the New York close, trading at 1.2788 francs per euro. The franc was 0.8 percent lower against the dollar at 0.9736 francs per dollar.