SNB Steps Into Currency Market Amid Brexit-Induced Stress
- Swiss policy makers have repeatedly threatened interventions
- Franc climbs most since January 2015 in reaction to U.K. vote
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The Swiss National Bank waded into currency markets on Friday in reaction to Britain’s referendum on European Union membership that has upended global markets.
“Following the United Kingdom’s vote to leave the European Union, the Swiss franc came under upward pressure,” the central bank said via e-mail. “The Swiss National Bank has intervened in the foreign exchange market to stabilize the situation and will remain active in that market.”