Dollar at 11-Year High Versus Euro on Franc Fallout
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The dollar rose to the strongest level in 11 years against the euro as the Swiss National Bank’s decision to scrap the franc’s cap steered investors into the world’s top reserve currency.
The euro posted its biggest weekly loss since July 2012 versus the yen as Spiegel magazine reported European Central Bank President Mario Draghi briefed German officials on a sovereign-bond-buying plan. The dollar snapped a five-day decline against Japan’s currency after data showed U.S. consumer confidence rose to highest since 2004. A gauge of foreign-exchange volatility climbed to the highest in more than a year. Brazil’s real led gains among major currencies.