Switzerland’s franc weakened the most in 18 months versus the euro after the nation’s central bank introduced negative interest rates to defend the currency’s cap.
The shared currency fell for a second day against the dollar as the Swiss National Bank decision boosted speculation the European Central Bank will expand stimulus measures next year. A gauge of the dollar reached a five-year high amid signals the Federal Reserve’s pledge to be “patient” on interest rates means an increase next year. Colombia’s peso gained for a third day to lead most of its emerging-market peers higher. The pound gained as volatility rose to a 15-month high.
