"For the Swiss franc to look like an attractive funding currency again when it is in competition with so many other currencies at the moment we would need to see....direct intervention on the part of the Swiss National Bank," Adam Cole, head of currency strategy, RBC. He added that he did not...
The Swiss franc edged higher versus the euro on Thursday, and may test a record high in days ahead after the Swiss National Bank's latest steps to curb franc strength fell short of expectations, and as worries over the euro zone's debt crisis fester.****
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Switzerland's government will unveil a 1.5 billion Swiss franc ($1,9 billion) package to help the country deal with the strong currency when it meets later on Wednesday, a Swiss newspaper reported.
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The safe-haven Swiss franc nursed heavy losses in Asia on Friday, having posted record one-day falls against the euro and dollar after the Swiss National Bank threatened to step up its fight to curb the franc's strength.*
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The Swiss franc hovered near record highs against the dollar and euro in Asia on Tuesday, having surged on the back of a global stock market rout as a crisis of confidence gripped investors.
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Ed Ponsi, Managing Director at Barchetta Capital Management, says the effects of Yen intervention and the increase of Swiss interest rate will not last because there is a tremendous amount of pressure to sell the U.S. dollar.
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The Swiss franc retreated from record highs on Wednesday, after Switzerland's central bank cut interest rates to counter the currency's rise, although concerns about global growth may curb risk appetite and lend the currency further support.
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Seen as a safe haven from an escalating euro zone debt crisis and fears of a U.S. rating downgrade, the franc has surged from one record to another this year against both the euro and the dollar.
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The Swiss franc held hefty gains in Asia on Wednesday, having rocketed to record highs as investors scrambled for a safe haven on renewed tensions in the euro zone debt market and worries about a global slowdown.
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The safe-haven Swiss franc counted its gains on Tuesday on worries about the global economy even as the U.S. looked to have averted a debt default after the House of Representatives approved an 11th hour deal to raise the U.S. borrowing limit.*
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