The euro and the Swiss franc rose against the dollar on Thursday after train blasts in Madrid killed 131 people and reignited global security concerns. There was no immediate claim of responsibility for the blasts, but the safe-haven Swiss franc and the euro rallied sharply after a radical Basque nationalist leader said he did not believe Basque separatist group ETA was responsible, as Spain initially indicated. Spain was a staunch supporter of U.S. President George W. Bush's decision to go to war in Iraq.
"There's been buying of Swiss across the board on the back of the terrorism activity," said a London-based trader. The Swiss franc rose one percent from the U.S. close against the dollar to 1.2730 and also hit one-month highs against the euro of 1.5656 . The euro reversed earlier losses against the dollar, recovering more than a cent from the day's lows to $1.2305 .///