Franc Gains as SNB Refrains From Weakening Measures; Euro Drops

The franc rose versus all its 16 major peers as the Swiss National Bank refrained from announcing new steps to curb its gains, after intervening or referring to the currency’s strength on the first three Wednesdays of August.

The dollar erased earlier losses versus the euro as stronger-than-forecast economic data damped bets the Federal Reserve may move to stimulate growth. Mexico’s peso rallied on optimism growth in the U.S., its biggest trade partner, will quicken. The franc gained the most versus the greenback and yen since Aug. 9, the day the Fed pledged to keep interest rates at almost zero until mid-2013, as the Swiss government unveiled an 870 million-franc ($1.1 billion) economic-stimulus package.