The franc has risen some 3.5 per cent against the euro since the U.S. Federal Reserve held interest rates last week
The Swiss franc rose to its highest level against the euro in nearly a decade on Monday, as heavy losses in stock markets, concerns over U.S. and global growth and tensions in the Middle East drew investors to the safe-haven currency.
Early on Monday the franc rose as high as 1.0856 euros, its highest since January 2015, when the Swiss National Bank scrapped a cap it had against the euro. The SNB has cut interest rates twice this year amid concerns among Swiss manufacturers that the strength of the currency was putting pressure on their key export business.
Euro Currency Snb Bank Strength Cent Appreciation SNB Swiss National Bank U.S. Federal Reserve
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