Investors shunning risk around the world had the Swiss franc trading within sight of 1.20 per euro on Wednesday, but the spectre of Swiss National Bank intervention was capping any gains in the safe-haven unit. The SNB capped the franc at 1.20 per euro on September 6. "Markets remain in 'risk off' mode," UBS strategists said. "Resistance is at 1.2049 ahead of 1.2070, while support lies at 1.2000."
The franc was flat against the euro compared to the New York close at 1.2013 at 0521 GMT. The franc rose 0.2 percent against the dollar. Last week, the franc briefly hit a seven-month peak of 1.1990 on trading platform EBS, marking the first challenge to the limit the SNB imposed to help keep the country's exporters and tourism industry competitive.
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