A currency changes fund reserves.
The Swiss franc climbed to its highest level in Europe since nearly a decade. This is thanks to the large losses of the reserve funds, the concerns about the economic development in the US and in the world, and the tensions in the Middle East. But this attracts investors to the idea of a more general Swiss bank, said Reuters.
The bank rose to around 3.5% against the euro after the US Fed kept interest rates unchanged last week.
At the start of today’s session, the euro rebounded to 1.0856 per euro, the highest level since January 2015. Then the Swiss National Bank increased the restriction that it had introduced to the European Union.
The Swiss central bank has cut interest rates twice this year amid concerns from domestic manufacturers that the debt crisis is putting pressure on their key assets online business.
It is not yet clear whether the National Bank of Switzerland will be able to instruct the depositors to stop the collapse of the wallet.
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