Franc strengthens on Trump vote
The Swiss franc has been strengthening against the Euro today as nervous investors look for the safe haven after Donald Trump’s election victory.
In early trading the franc was
worth 1.06 against the Euro – but has since moved down to 1.07. Traders believe
the Swiss National Bank may have intervened in the market to prevent the franc
from strengthening further.
The strength of the franc has long been a concern for businesses as it makes exports more expensive. The currency is a favorite haven in uncertain times.