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Yen, Franc Gain on Safety; Euro Rises to 17-Month High on ECB

The yen and franc gained against most major counterparts, with the Swiss currency touching a record high against the dollar, as a drop in commodities and stocks damped appetite for higher-yielding assets.

The euro reached its strongest in 17 months versus the dollar on speculation European Central Bank President Jean-Claude Trichet will signal further interest-rate boosts after a policy meeting tomorrow. New Zealand’s dollar and Brazil’s real were the worst-performing major currencies. The Dollar Index touched the lowest since 2008 on weaker-than-forecast data and speculation the Federal Reserve will maintain economic stimulus.