Strong franc will cost jobs in the autumn
Strong franc will cost jobs in the autumn A senior official at the State Secretariat for Economic Affairs (Seco) has predicted increased unemployment in Switzerland due to the strong franc and insecure global economy.“If the exchange rate stays at this level, we have to expect a large amount of production relocated abroad and redundancies, particularly in the machine industry,” said Serge Gaillard in an interview with the newspaper NZZ am Sonntag.
Cheap International Phone Rates To Switzerland - News
A senior official at the State Secretariat for Economic Affairs (Seco) has predicted increased unemployment in Switzerland due to the strong franc and insecure global economy. “If the exchange rate stays at this level, we have to expect a large amount
4 left rates unchanged and signaled the ECB has resumed bond purchases and will offer banks more cash to stop the region's debt crisis from engulfing Italy and Spain. Japan last week followed Switzerland in seeking to stem appreciating exchange rates
In contrast to the US and the euro region, Switzerland forecasts budget surpluses in every year through 2015 and boasts a jobless rate of 3 percent. The franc is also favored because Switzerland has a current-account surplus, the broadest measure of
Mr. Just attributed the strong market to historically low interest rates, and to the fact that investors see Switzerland as a safe haven. He added that the Swiss economy rebounded quickly after the recession, with about 2.5 percent growth in gross
Japan and Switzerland's efforts to weaken their currencies against the dollar may fail as a slowdown in the world's largest economy drives investors to sell the greenback, said Commonwealth Bank of
Currency appreciation of the yen suffered war broke out again ...
Swiss currency started the day joint war “safe-haven currency,” why hedge
Bank of Japan currency intervention in the same time, the Swiss central bank also lonely, strong in Japan intervened in foreign exchange front, trying to prevent losing the appreciation of the Swiss franc, which is 20 106 Swiss central bank intervention in currency markets after the re-shot.
show the U.S. economy is sliding into second bottom, while the debt problems of Europe and America have shown the state after another, turns into a European currency is devalued. Faced with such a situation Bank of Switzerland have started on two direct intervention, war or a new currency has quietly begun.
and the Swiss franc as a currency hedge recognized in such circumstances, it appeared to be inadequate, steadily rise, it is not people expect.
the traditional sense, the Swiss franc is the most recognized safe-haven currency, because of its unique economic and political background, the Swiss franc have a stable and less susceptible to international environmental characteristics. Switzerland is considered the world’s safest place, and history in the event of the international political instability or economic downturn, the Swiss franc as investors shift funds are the preferred target, and good international balance of payments situation is also a safe-haven currency Swiss franc one of the major conditions.
series of currency the Swiss National Bank could not bear to climb, finally decided to intervene, the Swiss central bank unexpectedly announced that it will cut interest rates and a series of measures to intervene in currency markets. Swiss central bank, the three Swiss franc LIBOR period goal down to as close to zero, and three stage CHF Libor target range narrowed to from 0-0.75% 0-0.25%.
although the yen is also known as safe-haven currency, but in fact its root is a carry trade funding currency, in a sense is the yen , “hedged” the.
The New York Mellon Bank in Boston, managing director of global foreign exchange strategy Samarjit Shankar said, “Our stock, bond and currency markets and long-term indicators show a large number of large investors in the corresponding asset markets for hedging, just speculation pushed the Swiss franc and the yen, which suggests that risk appetite greatly reduced. “
is worth noting that the recent intervention in currency markets, and a minority of countries. As the dollar continued to weaken the currency led to a substantial appreciation of the threat to their exports, the recent South Korea, Singapore and Brazil, many countries have adopted different forms of foreign exchange interventions.
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