Swiss Franc Gains as Investor Doubts Overshadow Greece Aid Offer
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The Swiss franc appreciated against the euro for the first time in three days as investors opted for its relative safety on the chance weekend negotiations on Greece fail to result in an agreement.
The franc advanced against all 16 of its major peers, even as the indebted nation’s creditors were said to have offered to unlock aid of as much as 15.5 billion euros ($17.3 billion). Concerns that a final deal will still prove elusive helped the franc recover from a two-week low reached Thursday as Swiss National Bank President Thomas Jordan said the currency is overvalued and officials may intervene to cap its ascent.