Early trade in New York: Swiss franc soars to record highs

The Swiss franc hit record highs versus the euro and dollar on Thursday and looked set to extend gains as lower US bond yields and concern about the eurozone debt crisis prompted investors to seek safety in the Swiss currency. The dollar weakened broadly, hitting a seven-week low against the yen and a 28-year low against the Australian dollar after a surprisingly strong Treasury auction on Wednesday put pressure on government bond yields.