Safe-haven Swiss franc gains, pound drops on UK budget shift
Business
NEW YORK :The Swiss franc gained on Friday as a global stock market selloff sent investors to safe havens, while the pound weakened after a report the UK budget will not include income tax rises. Rising expectations that the Federal Reserve will hold rates steady in December instead of continuing to ease have dented risk appetite. More Fed officials signalled caution on Thursday over further easing, citing worries about inflation. Investors now see a 50 per cent chance of a 25-basis-point cut
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