Market Overview

Swiss Franc (FXF) Hits New All Time Highs


The Swiss Franc (CHF) was again the biggest winner in the currency markets today, as investors continued to look for safe-haven assets in the middle of the Japanese nuclear crisis. Stocks, commodities and riskier currencies got hit hard in the second day in a row as the mix of worrying news, rumors and speculations about a possible partial meltdown and unsuccessful containment efforts weighted down on already fearful investors.

As is the usual case in this kind of situations, the Swiss currency benefited the most from the widespread panic, hitting fresh all time highs against the US Dollar (USD), while soaring against the Euro (EUR) and the British Pound (GBP), among many other currencies as well.

The USD/CHF plunged all the way to 0.9070, an absolute all time low for the currency pair, and currently is hovering around 0.9080s.

The EUR/CHF, meanwhile, dropped for more than 250 points, falling from 1.2853 all the way to 1.2585, and the GBP/CHF also suffered significant losses, dropping from 1.48 all the way to 1.4510, before recovering a little and currently is trading around 1.4550s.

Posted-In: Forex Global Economics


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