Swiss Franc Advances After Central Bank Raises Growth Forecast
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The Swiss franc strengthened for the first time in four days against the euro after the central bank raised its growth forecast at a policy meeting.
The currency climbed from a seven-week low against the dollar as the Swiss National Bank predicted the economy will expand 1 percent this year, twice as much as its previous estimate. Policy makers led by interim Chairman Thomas Jordan, maintained their ceiling for the currency at 1.20 francs per euro, and pledged to defend the cap with their “utmost determination.”