Excerpt from: Forex News
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| July 10, 2009 | | The Swiss want to keep the franc lower in currency trading | Rumors that the Swiss have been intervening in forex trading in order to keep the franc lower have been circulating for months. The Swiss themselves publicly admit that they are willing to tamper with the franc's performance in currency trading in order to keep it from appreciating. Sean Hyman at the Forex Trading Blog points out that the Swiss are likely to keep it up for some time:
The Swiss are intervening in their currency when they notice the
franc’s strength. This is likely to continue until their economy no
longer suffers from the franc’s appreciation OR until global economic
growth is solidly underway to where traders are “franc sellers” once
again as they seek out higher yielding currencies at that point.
And, with risk aversion the order of the day, it is no surprise that the Swiss feel it necessary to continue intervening in forex trading.
| Topic Tags: currency, currency trading, forex trading, forex trading blog, franc forex trading, risk aversion, Swiss intervention | |
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