Swiss Franc Drops to Weakest Since Cap Imposed

Switzerland’s franc declined to the weakest level since the nation’s central bank introduced an exchange-rate cap at 1.20 per euro in September 2011.

The franc fell as much as 0.9 percent to 1.2483 per euro, the weakest since May 2011. It traded 0.8 percent weaker at 1.2471 as of 3:08 p.m. London time.

The Swiss currency depreciated 0.3 percent to 93.36 centimes per dollar.

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