SINGAPORE/LONDON—The euro and Swiss franc regained some lost ground on Thursday, as markets reacted positively to the Swiss central bank’s support for Credit Suisse, ahead of a difficult meeting for ECB rate setters.
The euro was up 0.4 percent at $1.06225 having lost 1.4 percent a day earlier, its biggest percentage fall in six months, as the focus of fears about the banking sector spread across the Atlantic from the collapsed U.S.–based Silicon Valley Bank to the much larger Credit Suisse.
Some calm was restored to markets after the Swiss lender said on Thursday it would borrow up to $54 billion from the Swiss National Bank to shore up liquidity and investor confidence, after its shares on Wednesday plunged as much as 30 percent….