An exchange traded fund pegged to the movement of the Swiss franc against the U.S. dollar rose to a new high Friday even after the Swiss National Bank cut interest rates this week and warned it would intervene to cool the currency’s rise.

CurrencyShares Swiss Franc Trust (NYSEArca: FXF) was up 0.6% in recent trading. [Investors Seek Safety in Swiss Franc]

Japan’s central bank was intervening in currency markets this week in a bid to force the yen lower. [Yen ETF Creeping Higher After Intervention]

The Japanese government sold yen and pledged to inject $126 billion into its economy, reports Aki Ito and Keiko Ujikane for Bloomberg. The yen briefly crossed over the $80 per dollar mark for the first time since July 12 in foreign market trading.

On Tuesday, the Swiss Central Bank cut interest rates and stated that it will increase the supply of the franc currency in money markets. [Investors Seek Safety in Swiss Franc ETF; Volume Rises.]

Dismal economic data from the U.S. and Eurozone has pushed investors to safe-haven currencies, such as the yen and franc, which has consequently sent the currencies to record highs. [Risk Aversion Sends Traders To Safe-Haven Currencies, ETFs.]

“What you’re seeing now is policy makers responding because it’s beginning to hurt their overall economic prospects,” commented Richard Jeram, chief economist at Bank of Singapore, “particularly in the case of Japan, where the economy is pretty vulnerable after the March earthquake.”