The Swiss franc continues to strengthen against many of its major currency rivals. At the end of the trading week, the franc is looking to touch levels against the US dollar unseen in seven years, despite the Swiss National Bank (SNB)‘s myriad of foreign exchange interventions. How much more can the franc appreciate this year?
The Swiss franc is extending its gains against many of its G10 currency competitors to finish the trading week. With the US dollar weakening and global economic uncertainty amid the coronavirus pandemic, investors continue to pour into the franc, much to the chagrin of a central bank doing everything it can to place a cap on its ascent.
The Swiss franc continues to strengthen against its most traded currency competitors to close out the trading week as the US Dollar Index slipped to a one-month low. The franc has been making gains on growing confidence in global financial markets, coronavirus vaccine hopes, and a weakening greenback. The franc is strengthening despite the central bank continuing to defend its currency interventions.
The Swiss franc is trading mixed to kick off the trading week as Switzerland’s economy attempts to be resuscitated in the aftermath of the COVID-19 pandemic. The Swiss franc is struggling for consistent direction against a myriad of currency rivals, with the central bank launching additional liquidity measures and Fitch maintaining its AAA rating of the Swiss economy.
The Swiss franc is back in the spotlight in the middle of the trading week as the central bank’s warning that it will keep up its fight against the currency’s appreciation concerned investors. As Switzerland’s economy is on track for the worst year in more than four decades, the near-term future of the nation remains uncertain. But with uncertainty prevalent throughout global financial markets, is the franc still the go-to safe-haven asset for investors?
The Swiss franc is trying to recover from a two-month low against the US dollar as investors pour into the currency amid global economic and political uncertainty. Despite the central bank’s best efforts to install a ceiling on the franc’s appreciation, traders are still seeking safe-haven assets in the event of another market meltdown, which some Wall Street titans have warned about in recent weeks.
The Swiss franc is weakening on Tuesday as the latest manufacturing figures highlighted an industry that is in a sharp decline. The franc’s slide was exacerbated by the central bank’s foreign exchange interventions to prevent currency appreciation. With Switzerland reopening in the aftermath of the coronavirus pandemic, could the economy rebound in the second half of 2020 and elevate the franc even more?
The Swiss franc was one of the strongest currencies today, rising against almost all other most-traded rivals. The only exception was the Great Britain pound, which managed to hold its ground versus the franc. Even very negative domestic data did not prevent the currency of Switzerland from rising.
The Swiss franc is sliding against the US dollar and the euro on Tuesday as the central bank’s sight deposit holdings surged by their second-highest level in 12 months. For more than a year, Switzerland has been actively trying to depreciate the franc’s value as investors continue to pour into the traditional safe-haven asset, even as financial markets rebound. The Swiss franc has significantly appreciated throughout the turbulence, affecting the manufacturing sector and overall exporting industry.
The Swiss franc is slumping on Tuesday as the central bank continues to intervene in foreign exchange markets and control the value of the currency. Despite being a conventional safe-haven asset for global investors, the franc’s appeal might diminish as the nation potentially slips into a recession.
