Switzerland’s Franc Rises to Record Versus Dollar; Stocks Fall
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Switzerland’s franc jumped to a record against the dollar as stock markets fell, boosting demand for the safest assets.
The Swiss currency has gained against the dollar on each of the past 11 days amid speculation the country’s central bank may raise interest rates. European stocks fell for a second day as traders added to bets the European Central Bank will signal further rate increases after its policy makers meet tomorrow. The Standard & Poor’s 500 declined in the U.S.