The monetary unit of Switzerland is growing weaker against the world's reserve currency and is driving toward parity, two investment houses' analysts told Bloomberg. The hobbled 17-nation common currency of the European Union is proving to be detrimental to the safe-haven currency, according to Credit Suisse Group and Swissquote Bank. On Friday, the franc was… Read more.
An increase in economic growth and development projections by the central bank of Switzerland drove up the value of the nation's currency on Thursday against the common currency of the European Union, according to Bloomberg. The Swiss franc also advanced against the world's reserve currency as a consequence of projections of 1 percent expansion for… Read more.
A strong performance by the Swiss franc on Thursday against the U.S. dollar and the common currency of the European Union was driven by a government report indicating Swiss exports increased in December, according to Bloomberg. Speculation about the Swiss National Bank intervening to draw down the value of the franc was also minimized as… Read more.
German Chancellor Angela Merkel and French President Nicolas Sarkozy agreeing to pursue significant improvements to the economic state of the euro zone influenced the Swiss franc's market performance on Monday, according to published reports. Against the U.S. dollar and the Japanese yen, the franc performed strongly, according to Bloomberg. But the Economic Times reports the… Read more.
CME Group and Dow Jones Indexes announced Tuesday the launch of a new index called the Dow Jones CME FX$INDEX, which they say will give futures brokers and traders a more efficient way to trade global currencies against the U.S. dollar. The index represents the value of the dollar as compared to a basket of… Read more.
Spot gold prices broke through previous highs and smashed records in several currencies during London trading on Tuesday, reaching $1,251.85 per ounce and 1,050.86 euros per ounce. Continuing uncertainty about the sustainability of European sovereign debt and a new warning from the Fitch rating agency that Britain faces a fiscal crisis weighed on investor demand… Read more.