There’s talk that the sharp drop in the Swiss franc was due to central bank intervention
|09/30/2016||Posted by BusinessMediaguide.Com under General World News||
LONDON, Sept 30 (Reuters) – The safe-haven Swiss franc fell sharply on Friday, having earlier hit a two-month high on worries about the European banking sector, with some traders speculating that the Swiss central bank was intervening to cap the currency’s strength.
The euro had hit a two-month low of 1.08125 francs earlier in the London session, as concerns about the health of Deutsche Bank weighed on the single currency and undermined risk appetite across global markets.
But by 0958 GMT it had rebounded to hit a one-week high of 1.09135 francs, rising 0.4 percent in a matter of minutes. It was read more >>>