Swiss franc falls on euro peg talk

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The value of the Swiss franc fell sharply on Friday, ending a year-long rally in currency markets, as talk of a peg to the euro eased pressure on the haven currency.

The Swiss National Bank (SNB) has battled to curb the appreciation of the Swiss franc which has gained 31.2% against the dollar and 23.5% against the euro in the year to August 10, 2011.

On Friday, the Swiss franc shed 6.7% of its value against the euro and 6.1% against the dollar trading at €0.9102, or $1.295, at 17:00 London time

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