(Bloomberg) -- The franc rose to near its highest
since April against the dollar as concern subprime mortgage
defaults may slow the U.S. economy caused its currency to weaken.
Switzerland's currency was the third best performer against
the dollar of the 16 most-traded currencies as investors unwound
so-called carry trades funded by borrowing the franc at its
relatively low interest rates. The U.S. currency traded near the
weakest in more than a month versus the yen today and fell to a
record low against the euro.
Read more at Bloomberg Currencies News
since April against the dollar as concern subprime mortgage
defaults may slow the U.S. economy caused its currency to weaken.
Switzerland's currency was the third best performer against
the dollar of the 16 most-traded currencies as investors unwound
so-called carry trades funded by borrowing the franc at its
relatively low interest rates. The U.S. currency traded near the
weakest in more than a month versus the yen today and fell to a
record low against the euro.
Read more at Bloomberg Currencies News
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