The Swiss franc retreated on Friday from its highest level since last August against the euro, after the Swiss National Bank confirmed it was intervening in the currency market to stem its rise.
The franc, treated as a safe-haven currency during times of financial market turmoil, had risen after Britain voted to leave the European Union in a historic decision earlier in the day.
The euro recovered to trade 0.6 percent lower on the day at 1.0846 francs, having hit a low of 1.0623 francs early in the London session
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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