Franc Strengthens to Near Parity Versus Dollar as Economy Grows

The franc strengthened against the dollar, approaching parity with the U.S. currency for the first time in almost nine months, as the Swiss economy expanded at a faster pace than economists forecast in the second quarter.

Switzerland’s currency also appreciated against the euro. Gross domestic product rose 0.9 percent from the first quarter, when it increased 1 percent, the State Secretariat for Economic Affairs in Bern said today. The median of 18 estimates in a Bloomberg economist survey was for an 0.8 percent gain.