Swiss franc under pressure

1/31/2011

Always regarded as a solid currency and with very good reason, the Swiss franc has been a favourite currency that Forex traders like to pair with. However, the Swiss franc is coming under pressure and continued to fall against the Euro. All of this is believed to have been caused through the country’s economy minister, who voiced concern over the franc’s current strength.
The Swiss minister of economy, said at a press briefing in Bern that the country is in a very good shape compared with the Eurozone but that the overvalued currency still remains a concern as a potential threat.  As a result the Swiss franc fell against the euro and the Japanese yen today the 19th January 2011. EUR/CHF rose from 1.2895 to 1.2945 and the CHF/JPY fell from 85.71 to 85.54.