Article Image

IPFS News Link • Currencies

Who's Driving The Mysterious Swiss Franc Slump?

• zerohedge.com by Tyler Durden

In fact the weakness has been going on since Davos in February...

So who is selling swiss francs?

Bloomberg ventures to suggest  nervous Russian Tycoons may be driving the swissy selloff.

"The Swiss franc is driven predominantly by capital flows for now and Russia sanctions included Swiss companies where Russians are invested," said Manuel Oliveri, a currency strategist at Credit Agricole SA, citing Sulzer AG as an example.

"Increased need for liquidity by Russians, and no appetite for leaving cash in Switzerland, is changing the franc's correlation with risk sentiment," he said, adding market speculation on this issue was hard to confirm.

As a side point, as Swissy sank this week, the market capitalization of The Swiss National Bank has collapsed by over 25%...


www.universityofreason.com/a/29887/KWADzukm