NEW YORK, April 23 The euro jumped to a
one-month high against the Swiss franc on Tuesday, with several
traders citing speculation the Swiss National Bank could raise
the floor for the currency pair's movements.
The euro on Tuesday hit a high of 1.2264 francs,
its highest since March 19. It last traded at 1.2254, up 0.4
The SNB in September 2011 imposed an exchange rate cap at
1.20 francs per euro, meaning it would not tolerate a euro/Swiss
Franc rate below 1.20. Talk among traders suggested that the cap
could be moved higher, to 1.25 francs.
The SNB said it had no comment.