Economics
SNB Can Sleep Through Brexit Vote as Asia Outpost Sweats
- First counts in EU vote expected for early hours of June 24
- SNB opened Singapore office in 2013 when cap was in place
The Swiss National Bank in Zurich.
Photographer: Alessandro Della Bella/BloombergThis article is for subscribers only.
The Swiss National Bank’s decision three years ago to open a branch in Singapore will pay off with a good night’s sleep this month when the results of the U.K.’s European Union referendum begin to hit the wires after midnight.
With the June 23 vote too close to call and currency markets volatile, the outcome may prove to be an ordeal for the SNB. The franc, already described as “overvalued” by President Thomas Jordan, is popular at times of uncertainty, and investors looking to latch on for safety could push it higher.