* Euro falls versus Swiss franc for fifth day
* Comments by Eurogroup's Juncker put markets on edge
* Euro surrenders gains after rising above $1.42 (Updates prices, adds quotes, background)
By Julie Haviv
NEW YORK, May 26 (Reuters) - The euro hit a record low versus the Swiss franc on Thursday on mounting doubts whether Greece will receive its next round of aid from the IMF, and the worries are likely to keep the single currency under pressure.
Comments by Jean-Claude Juncker, president of the Eurogroup finance ministers, raised concerns that Greece may not get the next 12 billion euros in aid from the International Monetary Fund that is needed to cover immediate funding needs. For details, see [ID:nLDE74P1Z2]
Heightened anxiety over Europe's sovereign debt crisis has driven the five-day slide in the euro versus the safe-haven Swissie.
"The currency pair's performance is a reflection of the extreme nervousness existing in the market in relation to the sovereign debt crisis," said Kathy Lien, director of currency research at GFT Forex in New York. "There has been a lot of back and forth between the EU and the ECB on IMF aid to Greece, and that does not help the euro at all."
The euro fell as low as 1.22045 Swiss francs on electronic trading platform EBS
It also hit a 2-1/2-month low against sterling
Inspectors from the European Union, the European Central Bank and the IMF must assess whether Greece has made sufficient progress to receive the next round of aid under the country's 110 billion euro international bailout, though there is not specific date set for a decision. Government officials have said that the next installment must be disbursed by July 15. [ID:nN26191961] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
IMF threat on Greek aid spooks markets [ID:nLDE74P1HC]
Other euro zone crisis stories [ID:nLDE68T0MG]
Graphic on debt contagion http://link.reuters.com/zys69r
Graphics on debt crisis http://r.reuters.com/hyb65p ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Because Switzerland relies heavily on its exports, the Swiss National Bank could attempt to talk the franc lower since direct intervention in the past has fallen short of expectations, Lien said.
"The performance of the Swiss franc is something to keep an eye on as it serves as an important gauge of sentiment in the euro zone," she said.
Against the dollar, the euro rose 0.3 percent to $1.4128
The euro's support lies around the psychologically important level of $1.4000, traders said, which also marks the 200-week moving average. The 100-day moving average is at around $1.3996.
If the euro makes a sustained break below $1.4000, then $1.3770, a 38.2 percent Fibonacci retracement of the euro's rise from June 2010 to May 2011, may be a key support, traders said.
GROWING PRESSURE
Pressure has grown on Greece to accelerate reforms and asset sales in return for international aid. Fears of a potential restructuring of Greek debt and the potential of contagion to bigger economies such as Spain and Italy have pushed the euro down 6 percent against the dollar since May.
Brown Brothers Harriman said while the odds of Greece exiting the euro zone are no longer insignificant, it is not as high as 50 percent as some speculate.
"However, we do agree that bondholders will eventually have to accept significant haircuts on principal," the firm noted. "The only question is when, as European policy makers continue to try to kick the can down the road until 2013, when the banking sector will be less vulnerable and will hopefully be strong enough to take the hit."
Against the yen, the U.S. dollar on Thursday fell 0.8 percent to 81.30 yen after hitting a session low of 81.15 on EBS
The dollar hit a low of 79.56 yen earlier this month, but over the past week gains have been capped by the 100-day simple moving average at 82.25. That level is a key resistance point created not only by the moving average, but also the second standard deviation Bollinger band and the 38.2 percent Fibonacci retracement of the March to April rally. (Additional reporting by Wanfeng Zhou, Nick Olivari and Steven C. Johnson; Editing by Leslie Adler)