Friday, January 18, 2013

Investors dump Swiss franc as euro rises

According to the Financial Times: the Swiss franc fell to its weakest level in 20 months as traders took advantage of the improved sentiment in Europe to dump what has been one of the most popular havens for investors during the eurozone crisis.

The move sent the franc to its lowest level since the Swiss National Bank intervened in the currency markets in September 2011 in an effort to protect its exporters from heavy inflows into Switzerland by overseas investors.….

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