The Swiss franc is heading to the parity with the US dollar as the pace of Switzerland’s economic growth was faster than the economists estimated. The currency also gained against the euro.
The Swiss franc reached the record high level against the euro and the highest level since January 11th versus the US dollar today after the report showed the growth of the local consumption and as the demand for the safe haven increased the appeal for the franc, which is considered the safe currency nowadays.
From looking at the recent dynamics of the Swiss franc in the foreign exchange market it can be undoubtedly said that the currency is now treated as a safe haven by the traders. It reached its new historical maximum against the euro today.
The Swiss franc rose today against the euro on the speculation that the austerity measures would cripple the economic recovery in Europe and that the Swiss National Bank would raise the interest rates before the European Central Bank. The franc fell versus the US dollar.
The Swiss franc fell today against the US dollar and the euro, as the rally of the equities damped the demand for the currency as the safe haven, despite of the favorable fundamentals.
The Swiss franc rose reached today the highest level this week against the euro after the leading economic indicators remained at the highest level in almost four years.
The Swiss franc weakened today versus the U.S. dollar and the euro as the U.S. and the European economies show signs of recovery, damping demand for the franc as the safe currency and drawing the investors to the riskier assets.
The Swiss franc dropped today against the euro, leading to the speculation that the Swiss National Bank renewed its selling of the franc to prevent the strong currency from harming the economy; the U.S. dollar demonstrated the worse performance, therefore against the greenback the Swiss currency rose.
The Swiss franc advanced against the euro today to the record high level after the Swiss National Bank said that it’s not likely to intervene to prevent the franc’s appreciation.
The Swiss franc gained today, rising for a fourth day against the U.S. dollar, as the central bank think that the threat of the deflation has gone.
| Don't show me this offer | × |