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Live Coverage | Switzerland Intervenes to Weaken Currency After ‘Brexit’ Result

Switzerland’s executive bank pronounced on Friday that it intervened in a banking markets to deliberately break a Swiss franc in a issue of a British referendum result.

“Following a United Kingdom’s opinion to leave a European Union, a Swiss franc came underneath ceiling pressure. The Swiss National Bank has intervened in a unfamiliar sell marketplace to stabilise a conditions and will sojourn active in that market.”

— Swiss National Bank statement

The Swiss franc, that investors mostly spin to as a breakwater during times of tumult, strengthened during one indicate in a day to 1.0624 opposite a euro.

Article source: http://www.nytimes.com/live/eu-referendum/britain-switzerland-franc/

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