Swiss franc flat

The Swiss franc hovered close to a six-week high against the euro on Friday after traders, disappointed by the Swiss National Bank's decision not to shift the cap on the euro-franc exchange rate, piled money into the currency in the previous session. The SNB on Thursday knocked back speculation that it would move to shift the cap, set at 1.20 francs per euro on September 6 to stem massive gains in the safe-haven franc, but vowed again to take further measures if needed.
After the announcement, the franc pulled back sharply from 1.2340 to trade around 1.2260 francs per euro. It was trading at 1.2245 at 0804 GMT on Friday. The franc dipped slightly against the dollar to trade at 0.9409.