The Swiss franc retreated versus the euro and the pound after gaining sharply, on speculations that the nation’s central bank intervened to control the franc’s rally.

After the franc touched the highest level in 10 months versus the euro, it fell sharply before the end of this week’s session, on speculations that Swiss National Bank officials sold the currency to prevent the franc to rally further. SNB President Philipp Hildebrand refused to comment on the subject.

EUR/CHF traded at 1.4709 as of 20:22 GMT from as high as 1.4635 hours ago.

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