Tuesday, Feb 16, 2010
Forget gold it's Swiss Francs
Bloomberg: Swiss Intervention a ‘Losing Battle’ for Hildebrand
Feb. 16 (Bloomberg) - Foreign-exchange traders are betting the euro’s slide will derail Swiss National Bank President Philipp Hildebrand’s campaign to slow the franc’s biggest rally in a year.
Forecasters have raised the median year-end prediction the fastest since 2006, Bloomberg surveys show. Sixteen of 28 say the franc will be stronger at some point in 2010 than when Hildebrand took office Jan. 1. The premium charged to bet on gains with options has doubled since mid-2009. The franc traded at 1.4667 per euro as of 9:39 a.m. in Zurich, up 1.1 percent this year.
Posted by postle @ 10:53 AM (219 views) Add Comment
2 Comments
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1. freemanphil said...
Swiss Francs are a strong fiat currency, but they have been falling the past 5yrs against gold. Definitely not an alternative.
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