Markets

Swiss franc hits 2-year low against euro after Jordan comments

Published May 22, 2013 Updated May 22, 2013 10:17am

1 min

By Shoaib Ur Rehman

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LONDON: The Swiss franc fell to its lowest in two years against the euro on Wednesday after Swiss National Bank chief Thomas Jordan did not rule out negative interest rates and said policymakers could adjust the currency cap if necessary.

The euro rose to 1.2588 francs on trading platform EBS , its highest since May 2011, and up 0.4 percent on the day. The SNB imposed the currency cap of 1.20 francs per euro in Sept. 2011 to discourage safe-haven inflows and beat deflation.

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