Currency Note Worldwide

Swiss franc struggles

By Ricky Bean August 15th, 2013

Elsewhere, we saw the Swiss franc struggle, dropping to the lowest level in a month against the euro. The franc weakness has been attributed to a report that showed the Eurozone pulled out of its recession over the last quarter, thus dampening demand for the low-risk Swiss currency. For the same reason we saw the commodity-backed currencies perform well, in particular the New Zealand, Australian and Canadian dollars. Most notably the New Zealand dollar, which was boosted by the release of better-than-forecast retail sales – marking a big jump through the second quarter and helping the currency to make gains against all of its 31 most-traded peers. The released fuelled speculation that the central bank could raise interest rates in the coming months. Last night we had a monthly report out of Australia forecasting future consumer inflation. Get in touch with your trader for a live rate.