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Swiss franc revisits historic high vs euro

ZURICH : The Swiss franc revisited the historic high of 1.5669 francs to the euro on Monday as the euro sank during the European session before recovering some losses in late business.

The euro again touched the all-time low versus the franc it reached on April 7.

It fell after Group of Seven (G7) officials said in a statement after a meeting at the weekend that exchange rates should match fundamentals, without making explicit reference to any particular currency.

The selloff in world equity markets on Monday appeared to come around in the dollar's favour after U.S. stocks staged a rebound from Friday's selling as European markets were closing.

The dollar was higher in late Europe than Friday's closing prices.

The dollar was quoted at 1.6437/6447 francs compared with 1.6380/88 francs late on Friday. It recovered from 1.6210 francs seeen early in the session, its lowest level since April 4.

The euro˙ was at 1.5691/5696 francs in European late trade, below 1.5694/99 francs late on Friday.-Reuters