Sunday, September 18, 2011

Swiss Franc Weakens This Week, Reverses Downtrend by Weekend

Swiss francThe Swiss franc was down for the second week as prospects of peg of the currency to the euro significantly reduced appeal of the franc a safe asset.

Franc’s Rally Fails on Euro-Peg Speculation

Swiss francThe uncertain economic situation on market creates great demand for safer currencies. Governments, worried by resulting appreciation, attempt to intervene to rein excessive appreciation of such currencies. Today, the Swiss franc was one of the currencies that felt pressure.

Franc Falls for Second Day on Risk Sentiment

Swiss francThe Swiss franc weakened for the second trading session as the positive macroeconomic data from Europe boosted stocks and commodities, reducing investors’ need for safety of the franc.

Franc Gains as Markets Return to Risk Aversion

Swiss francThe Swiss franc snapped its decline today as the speculation about potential slowdown of the global economic growth returned attractiveness to safe currencies.