Swiss franc hits one-week high against euro

London

THE Swiss franc rose against the euro on Thursday after Switzerland's central bank kept interest rates on hold at record lows, defying some expectations that it might act to weaken an overvalued currency.

The Swiss National Bank (SNB) kept its target range for three-month Libor at between -1.25 and -0.25 per cent as expected, but it said it would remain active in the currency market if necessary.