Franc Rises, Euro Fluctuates Before Crisis Summit; Krone Gains
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The Swiss franc strengthened as investors sought refuge amid concern European policy makers may struggle to come up with a comprehensive plan to resolve the region’s debt crisis.
The euro pared a 0.6 percent decline versus the dollar and the yen after euro-area leaders scheduled an additional summit for Oct. 26, on top of the one set for Oct. 23, because Germany and France said they need more time to seal an accord. The franc reached a two-week high versus the euro, while Norway’s krone and Sweden’s krona rose as investors bought the safest European currencies. The yen and the dollar headed for advances this week against most of their major counterparts.