Swiss president concerned by franc’s increase to ‘crucial level’ against euro

Swiss president concerned by franc’s rise vs euro

BERN, Switzerland — Switzerland’s president says she is concerned at the strength of the Swiss franc against the euro.

Doris Leuthard, who is also the country’s economics minister, says the franc is “at a quite crucial level.”

The euro was trading at a record low of 1.4274 francs on Thursday.

Leuthard told reporters in Bern that it was up to the Swiss National Bank to decide whether to intervene to soften the franc.

The euro zone countries are Switzerland’s most important trading partners, and a strong franc harms the Alpine nation’s ability to compete with its neighbors.