ZURICH, Feb 24 (Reuters) – The Swiss franc climbed to its highest level in four-and-a-half years against the struggling euro on Monday as concerns about the spread of the coronavirus drove investors into safe-haven assets.
The franc, traditionally sought in times of uncertainty, rose to 1.0604 versus the euro, its highest level since July 2015 and a stronger value than it reached after Britain voted to leave the European Union in June 2016.
In contrast Swiss shares tumbled, with the Swiss Market Index trading 3.4% lower, its biggest day loss since August 2016, as investors took fright at the virus’ spread in neighbouring Italy. (Reporting by John Revill; Editing by Saikat Chatterjee and Alison Williams)
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