FRX: Swiss Franc Posts Record High Against US Dollar
The Swiss franc posted the highest price since March 2008 versus the US dollar today on its safe haven appeal. The demand for safety increased in the forex market on the Federal Reserve’s signal to restart purchase of securities. Such quantitative easing policies are indicative of a weak economy. USD/CHF tumbled to 0.9892 at about 11:37 GMT today, after opening at 0.9962 and tumbling to a record low of 0.9873.
