Currency Note Worldwide

Swiss franc soars

By Smart Currency October 2nd, 2013

Elsewhere yesterday, we saw the developments in the US make a notable impact on the global marketplace, with significant flow of money to “safe-haven” currencies. The Swiss franc soared to 19-month highs against the US dollar, as traders looked to remove themselves from the US currency amid mounting fiscal and monetary policy unknowns. Similarly we saw the Japanese yen perform well, buoyed by the news out of the US alongside a survey which showed sentiment among Japan’s largest manufacturers in the third quarter hit the highest level in 6 years. The Australian dollar continued to perform well throughout the day following better than expected retail sales and with the news that the Australian central bank had kept monetary policy on hold. With the problems with the US governmental shutdown, Canada’s close ties to the US caused the he Canadian dollar to struggle. This triggered growing uncertainty over what sort of demand we will see for Canadian exports in coming months. Early this morning we had monthly trade balance figures out of Australia but little else is due to be released. Call in for a live rate to see how the markets are reacting on what promises to be another interesting day.