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Euro rises to 1-mth high vs Swiss franc

by on July 31, 2012 10:52 am BST
 

LONDON, July 31 |
Tue Jul 31, 2012 6:52am EDT

(Reuters) – The euro rose to a one-month
high against the Swiss franc on Tuesday, with traders citing
month-end demand for the single currency that helped it edge
further away from the 1.20 franc floor imposed by the Swiss
National Bank.

The euro rose to 1.20209 francs on trading
platform EBS, its highest level since early July on buying by
real money investors, traders said. Stops loss orders were
reported above 1.2040 francs.

“It looks nothing more than month-end related – it’s traded
higher the past two month-ends,” said one London-based FX
trader.