Swiss National Bank Intervenes As Franc Climbs After Brexit Vote

By Carla MozeeMarketsMarketWatch Pulse

The Swiss National Bank intervened in the currency market Friday as the value of the country's franc surged in the wake of the U.K.'s Brexit referendum. The SNB moved to "stabilize the situation and will remain active in that market," the bank said in a statement. The franc had been driven higher as investors sought haven assets after a vote in the U.K. set the country on course to leave the European Union. The franc was recently down about 0.9% at $1.030, according to FactSet.

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