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Swiss franc drops on concerns SNB may have intervened
The safe-haven Swiss franc fell sharply on Friday, having earlier hit a two-month high on worries about the European banking sector, with some traders speculating that the Swiss central bank was intervening to cap the currency's strength. The euro had hit a two-month low of 1.08125 francs earlier in the London session, as concerns about the health of Deutsche Bank weighed on the single currency and undermined risk appetite across global markets. But it rebounded to hit a one-week high of 1.09135 francs at 0958 GMT, rising 0.4 percent in a matter of minutes. It was last trading at 1.0875 francs, still up 0.3 percent ... (full story)