Franc, Yen Rise as Middle East Tension Spurs Demand for Safety
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The Swiss franc and the yen advanced against a majority of their most-traded counterparts on speculation unrest spreading through North Africa and the Middle East will derail a global economic recovery.
The euro fell for a third day versus the franc on concern a new Irish government will seek to share the burden of rescuing the nation’s financial system with senior bank bondholders. The dollar touched a three-week low against the yen on prospects Federal Reserve Chairman Ben S. Bernanke will signal this week that interest rates will stay near zero.