The euro has jumped to a new daily high versus the franc Thursday morning with reports that the Swiss National Bank is ready to intervene in foreign exchange markets if needed. Traders say that the Swiss National Bank has intervened in foreign exchange markets before and are willing to do it again. They intervened as early as last month to buy euros and sell Swiss francs.
The central bank has warned on a continuous basis that it would act to prevent further appreciation of the franc against the euro. The bank's willingness to act had the euro exchange rate up to a high of 1.5244 francs and remains 0.2% higher on the day at 1.5228 francs.
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Yesterday, the IMF hiked its 2014 economic growth forecast on the UK for the fourth time in nine...
|South African Rand||17.849|
|GBP indicative mid-market rate at 16:05. Please call for quote.|