Swiss franc hits 2-week low against euro, US$

London

THE Swiss franc hit a two-week low against the euro and the US dollar on Monday, on signs that the Swiss National Bank (SNB) was intervening to weaken the currency and a report it was targeting a new exchange rate band.

Swiss newspaper Schweiz am Sonntag reported on Sunday that the SNB was informally aiming for a rate of 1.05-1.10 francs per euro, citing sources close to the bank.