FOREX-Swiss franc up as SNB fails to stem rally; dollar down

(Reuters)- The Swiss franc climbed on Wednesday and could well test record highs in the coming days, as fresh measures by the Swiss National Bank to slow the pace of the currency's rise disappointed investors bracing for more drastic steps.

The U.S. dollar, meanwhile, dropped across the board, hurt by steep losses versus the franc and selling in the midst of improved risk appetite on Wednesday with most stocks and commodities higher. Investors sought higher-yielding currencies such as the Australian dollar and Norwegian crown. Read more here…