The Swiss franc strengthened against its most major opponents in European deals on Thursday amid risk aversion, as oil prices fell and investors became cautious ahead of the U.S. Federal Reserve's annual symposium in Jackson Hole, Wyoming, that kicks off later in the day.

Federal Reserve Chair Janet Yellen will speak on Friday at the symposium and investors will keep a close eye on her remarks for clues about the outlook for U.S. interest rates.

The death toll in the Italian earthquake has risen to 247 people, according to Italy's national civil protection agency. The number of people killed are likely to rise further after several towns were damaged by the quake.

In economic front, data from the Swiss Federal Statistical Office showed that Swiss industrial production declined 1.2 percent year-on-year in the second quarter.

This follows an increase of 1 percent annually in the first quarter.

The franc showed mixed trading in the previous session. While the currency rose against the pound, it held steady against the greenback and the yen. Against the euro, it declined.

Reversing from an early low of 103.78 against the yen, the Swiss franc advanced to 104.15. If the franc extends rise, 106.00 is likely seen as its next resistance level.

Data from the Bank of Japan showed that Japan's producer prices rose 0.4 percent on year in July.

That beat expectations for an increase of 0.1 percent following the 0.2 percent gain in June.

The franc climbed to 0.9641 against the dollar, off its previous low of 0.9677. The next possible resistance for the franc may be found around the 0.95 zone.

The Swiss franc reached as high as 1.2724 against the pound, after having fallen to 1.2818 at 8:45 pm ET. On the upside, the franc may locate resistance around the 1.26 mark.

The Distributive Trades Survey from the Confederation of British Industry showed that British retail sales volume increased in August after declining in prior month.

The retail sales balance rose to +9 percent from -14 percent in July. The score was above expectations of -12 percent.

On the flip side, the franc fell back to a 2-day low of 1.0899 versus the euro, compared to yesterday's closing value of 1.0889. The franc is poised to test support around the 1.10 area.

Survey results from Ifo showed that German business confidence dropped unexpectedly in August.

The business sentiment index dropped to 106.2 in August from 108.3 in July. The reading was expected to rise to 108.5.

Looking ahead, Markit's flash U.S. PMI for August, U.S. durable goods orders for July and U.S. weekly jobless claims for the week ended August 20 are slated for release in the New York session.

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