Euro rises to 8-month high against Swiss franc

LONDON: The euro rose to an eight-month high against the Swiss franc on Monday, extending gains after the Swiss National Bank last week maintained its Swiss franc cap at 1.20 per euro but lowered its inflation and growth forecasts.

The euro rose to 1.21831 francs on trading platform EBS, its strongest since early January. Traders cited talk of an option barrier at 1.22 francs.

The euro has risen sharply in recent sessions against the franc, with traders citing speculation the SNB may raise the 1.20 franc floor for the euro in order to support growth.