Bloomberg: Franc Rises to World’s Most Expensive Currency as Taylor Sees Euro Parity
July 18, 2011
Even after making the Swiss franc the most over-valued major currency, traders are betting on more strength as the European Union’s sovereign-debt crisis begins to infect bigger economies.
The franc rose to a record today against the dollar, euro and pound as bond yields in Italy and Spain surged to euro- lifetime highs. The cost to hedge a drop in the euro versus the franc climbed to the most since January 2009, signaling concern the EU may fail to contain a crisis that has already forced Greece, Portugal and Ireland to seek financial bailouts.
Read More: http://www.bloomberg.com/news/2011-07-18/franc-rises-to-world-s-most-expensive-currency-as-taylor-sees-euro-parity .html
July 18, 2011
Even after making the Swiss franc the most over-valued major currency, traders are betting on more strength as the European Union’s sovereign-debt crisis begins to infect bigger economies.
The franc rose to a record today against the dollar, euro and pound as bond yields in Italy and Spain surged to euro- lifetime highs. The cost to hedge a drop in the euro versus the franc climbed to the most since January 2009, signaling concern the EU may fail to contain a crisis that has already forced Greece, Portugal and Ireland to seek financial bailouts.
Read More: http://www.bloomberg.com/news/2011-07-18/franc-rises-to-world-s-most-expensive-currency-as-taylor-sees-euro-parity .html