Pound Rises on Retail Sales; Swiss Franc Jumps on Trade Surplus
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The pound rose for a second day against the euro after reports showed British retail sales accelerated in July and the government posted a smaller deficit that economists forecast.
The franc rose against 15 of the 16 major currencies after a report showed Switzerland’s trade surplus rose to a record in July, fanning speculation the Swiss National Bank may raise interest rates. The yen slid against all but one of its most- traded peers as rising stock markets reduced the demand for safer assets and on concern Japan will weaken the currency.