Swiss Franc Soars To Record High Against Fading Dollar As Safe Haven Demand Shifts

Thursday, February 24, 2011 07:58
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Swiss Franc Soars To Record High Against Fading Dollar As Safe Haven Demand Shifts

Tags: currency

Mounting concern over the effect rising oil prices may have on the world’s economy has led currency investors to seek out the traditional safety of the solid Swiss franc.

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As a result, the U.S. dollar fell to a record low against the Swiss franc. Since geopolitical tensions do not appear likely to subside soon, it’s a trend that could continue for some time.

 

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