The Swiss franc edged sharply lower against its major rivals in early deals on Wednesday following comments made by the Swiss National Bank President Thomas Jordan that the central bank would maintain the EUR/CHF 1.20 floor rate as long as necessary.
The franc dropped to 1.2579 against the euro following his remarks, setting the local unit to its weakest level since May 2011. The franc also reached as low as 105.71 against the yen, 0.9727 against the US dollar and 1.4685 against the pound around 6:05 am ET.
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