Euro hits 13-month high versus Swiss franc

LONDON Tue Jan 15, 2013 5:55am EST

LONDON Jan 15 (Reuters) - The euro rose to a 13-month high against the Swiss franc on Tuesday as concerns about the euro zone debt crisis receded, prompting investors who had bought the Swiss currency as a safe haven to cut their positions.

The euro rose around 0.4 percent on the day to 1.23865 francs on trading platform EBS, its highest level since mid-December 2011.

Several major banks have revised their euro/Swiss forecasts higher in recent days, with one U.S. investment bank targeting 1.30 francs. (Reporting by Nia Williams; editing by Anirban Nag)

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