The Swiss franc slid against the dollar and the euro after the nation’s central bank said the currency is “massively overvalued.” The franc weakened as much as 1.3 percent to 1.09632 against the euro, before trading at 1.09490 as of 8:02 a.m. in London. The Swiss currency tumbled as much as 1.2 percent to 77.11 centimes against the dollar. The central bank ``won't tolerate'' a ``tightening of monetary conditions and is therefore taking measures'' against the franc, it said in an e-mailed statement today. The SNB is aiming for a three-month Libor as close to zero as possible, the bank said. The franc earlier strengthened to records versus the 17-nation euro and the dollar. The SNB said it will ``significantly'' increase the supply of liquidity to the Swiss franc money market over the coming days to help counter the currency's appreciation. To contact the reporters on this story: Lucy Meakin in London at lmeakin1@bloomberg.net; Emma Charlton in London at echarlton1@bloomberg.net To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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