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Franc Plunges Most Ever Versus Euro as Central Bank Draws Line

The franc tumbled, dropping the most ever against the euro, after the Swiss central bank imposed a ceiling on the currency’s exchange rate and said it will defend the target with the “utmost determination.”

The yen retreated against its most-traded counterparts after Japan’s Finance Minister Jun Azumi said he will lobby Group of Seven officials that a strong yen is bad for the global economy. The euro fell for the sixth day against the dollar, the longest losing streak since April 2010. The Norwegian krone surged as investors sought an alternative to the franc.