The Swiss franc dropped today as demand for safety fell amid the positive market sentiment, while the Swiss fundamental data made investors question the safe status of the currency.
The Swiss franc is the currency that is officially used in Switzerland and Liechtenstein, while also used in some other regions. The franc was introduced in 1850 as a currency used in the whole Switzerland, replacing different currencies that were used in different parts of the country (some of them were also called “franc”). The franc is considered a safe currency because of the stability of the Swiss economy and the near-zero inflation of the currency. Previously, the law that demanded that 40 percent of printed money should be supported by gold also supported the view on the franc as a safe currency, but that requirement was terminated in 2000.
Swiss Franc News Archive
January 17th, 2013 at 17:18
January 11th, 2013 at 15:56
The Swiss franc rose against the US dollar today, following the euro. The Swissie dropped against the shared European currency itself for the second day as Switzerland’s consumer prices fell last month more than was expected.
January 04th, 2013 at 2:35
The Swiss franc extended its drop versus the US dollar for the fifth straight session today as the fundamental data from Switzerland was not favorable for the currency. The Swissie dropped against the Japanese yen yesterday, but turned up today. The Swiss currency also continued to rise against the euro.
December 13th, 2012 at 11:03
The Swiss franc erased its earlier gains versus the US dollar and the Japanese yen after the Swiss National Bank maintained the ceiling for the currency. Surprisingly, the franc managed to gain on the euro despite the unfavorable news.
December 11th, 2012 at 20:00
The Swiss franc dropped sharply against the euro today as UBS AG announced that it is going to apply charges for financial institutions holding cash accounts. The currency advanced for the second day versus the US dollar and the Japanese yen.
December 05th, 2012 at 11:51
The Swiss franc dropped against the US dollar today and slumped versus the euro for the fifth consecutive trading session on speculations that Switzerland’s central bank may implement negative interest rates.
November 29th, 2012 at 11:49
The Swiss franc dropped against the euro today as Thomas Jordan, the President of the Swiss National Bank, said that the currency is still too strong. The Swissie advanced versus the US dollar.
November 13th, 2012 at 10:52
The Swiss franc gained against the euro today, but fell versus the US dollar. The macroeconomic data from Europe was bad today, weakening the shared European currency versus the Swiss currency. Yet fundamentals in Switzerland were not impressive either, limiting gains of the Swissie.
October 08th, 2012 at 20:41
The Swiss franc gained today against the euro after macroeconomic reports showed that the nation’s unemployment rate remained stable, proving expectations for an increase to be wrong, and inflation picked up. The Swissie was down versus the US dollar and the Japanese yen.
September 13th, 2012 at 13:29
The Swiss franc dropped today after the Swiss National Bank kept its monetary policy unchanged and reiterated the pledge to keep the cap of 1.20 francs per euro. The Swiss currency extended its bearish movement against the euro and halted the rally versus the US dollar.