LONDON -- The Swiss franc strengthened sharply against the euro Thursday, briefly breaching the minimum floor of CHF1.20 per euro set by the Swiss National Bank.
It was the first test of the floor since it was established on Sept. 6 and the euro fell to as low as CHF1.1990 on the EBS trading platform via CQG against the franc before climbing just above the key CHF1.20 level.
EBS is one of two key inter-bank trading platforms in the foreign-exchange market.
At 0950 GMT, the euro was trading at CHF1.2007 against the franc.
The test came amid broad-based euro weakness against a host of currencies, which saw stops get taken out at CHF1.2030 and below, according to London-based traders.
The SNB declined to comment on the apparent break of the floor.
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