Wednesday August 1, 2007 - 10:48:47 GMT
Share This Story
INVESTICA Ltd - www.investica.co.uk
Swiss currency support will continue
Underlying stresses will provide important Swiss currency support, especially if mortgage fears continue to extend beyond the sub-prime sector.
The franc weakened to lows around 1.6520 against the Euro on Tuesday before pushing strongly back to 1.6460 in New York as there was renewed selling pressure on high-yield currencies. The franc strengthened to near 1.20 against the US currency with dollar rallies quickly attracting selling pressure. The Swiss currency continued to gain ground in early Europe on Wednesday as risk aversion levels increased and there were gains through the 1.64 level against the Euro.
Fears that mortgage difficulties will spread away from the sub-prime sector will tend to support the franc in the short term, especially if global stock markets continue to weaken. Underlying demand for defensive currencies is likely to remain stronger for now.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."