Swiss franc soars after shock rate hike; pound rises

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Reuters UK

By Saqib Iqbal Ahmed and John McCrank NEW YORK (Reuters) – The Swiss franc soared against the dollar and the euro on Thursday after the Swiss National Bank delivered a surprise interest rate hike, while the British pound rose after the Bank of England delivered a rate hike of its own. The SNB joined other central banks in tightening monetary policy in its first rate hike in 15 years, increasing its policy rate to -0.25% from the -0.75% it has deployed since 2015. The move put the Swiss franc on pace for its largest daily jump against the euro since the SNB ditched its currency peg in 2015, wit…

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