Switzerland's central bank on Friday gave rare confirmation that it had intervened in the currency market to weaken the Swiss franc in the wake of Britain's vote to leave the European Union.
On the back of the unexpected Leave vote, the safe-haven franc rose EURCHF=EBS to its highest level against the euro since August 2015 and had its biggest one-day jump since the Swiss National Bank removed its franc peg to the euro on Jan. 15, 2015.
In a sign of the SNB's actions, the euro steadily rose from a low of 1.0623 to around 1.0790 francs in early London trade.
"Following the United Kingdom's vote to leave the European Union, the Swiss franc came under upward pressure," the SNB said in a statement. "The Swiss National Bank has intervened in the foreign exchange market to stabilize the situation and will remain active in that market."