Why Switzerland's Franc May Be the Must-Buy Around `Brexit' Vote
- Franc will act as `ultimate safe haven' if `Brexit' happens
- UBS Wealth expects Britain to stay in EU after June 23 vote
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The battered pound may rally about 9 percent against the Swiss franc if Britain votes to remain in the European Union, according to UBS Wealth Management, which manages about $2 trillion.
A vote by Britain to exit the world’s largest trading bloc has the potential to move the pound, which has slid 6.9 percent against the franc this year, down by a “decent amount” versus its Swiss peer, which would act as the “ultimate” haven in such a scenario, the Zurich-based wealth manager said.