The appeal for the stock markets declined and the low-yielding assets became more attractive, boosting the demand for the Swiss franc against the Euro for a second day, today.
Despite the fact that the Swiss National Bank is going to intervene into the currency market in order to keep the currency appreciation down, the franc in its growth rate goes just behind the U.S. dollar and the Japanese yen. The confidence in the Swiss economy is above many other developed economies.
Analysts believe that the franc will have to rise close to 1.4 against the euro for the SNB to launch a full scale intervention that will influence the rates. On the other hand, the franc certainly will be a gainer during the ongoing recession and any financial troubles in the world.
EUR/CHF fell from 1.5002 to 1.4975 as of 6:38 GMT today after falling from 1.5039 yesterday. USD/CHF rose from 1.1525 to 1.1570 today.
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