The euro fell to a record low versus the Swiss franc on Tuesday as the market tested the Swiss National Bank's resolve to prevent excessive gains in the currency.
The euro fell as low as 1.3785 francs after traders triggered stops below a record low hit on Monday of 1.3850 francs. The move accelerated after further stop-losses were taken out at 1.3800.
The market gunned talk of a 1.3800 bid from SNB that was not there, said a London-based sales-trader.
Traders added a German bank was a big buyer of Swiss francs, while trendline support was in focus at 1.3715.