020 7898 0500As fluctuations in Europe’s major corporate bond market increased yesterday, so too did the cost of protecting against a default. When risk increases there is one clear winner – the safe-haven Swiss franc, which rose against all of its 16 major currency pairs yesterday. This was some much-needed good news for the Swiss economy, as previous to this surge it had lost 2.4% to the euro this year alone – improved in the last three days, as we have seen it make over a 1% recovery.
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