Swiss Franc Reaches Record Versus Dollar on U.S., Yen Outlook

The Swiss franc reached a record high against the dollar as Japan’s intervention in the market for its currency stoked demand for an alternative to the yen amid speculation the U.S. economy will weaken.

The franc strengthened against the dollar for the sixth day, the longest streak in almost two months. The yen fell against the franc as traders speculated Japan sold its currency to protect exporters today, repeating a similar move last week, and that similar action by the Swiss is less likely.