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Franc Only Haven Left Means Biggest Gains SNB Can’t Stop

The Swiss franc, the best-performing major currency the past year, has become the only haven in the foreign-exchange market as the Group of Seven weakens the yen and the Federal Reserve floods the U.S. financial system with dollars.

The franc has surged 7.8 percent in the past year, the most among the 10 most-widely traded currencies tracked by the Bloomberg Correlation-Weighted Indexes. Not even the cash spent by Switzerland’s central bank last year to curb the franc’s strength was enough to keep it from appreciating more than 18 percent against the euro.