Highest exchange rate ever, a good time to go shopping over the border
Not the highest exchange rate ever. A few years ago it went to 1CHF : 1.10 Euro. It was only for half a day or so after the SNB stopped defending the franc. It remained a few cents over 1 for at least a week though
But not so good for non-Swiss investments.
--
I do wonder what will SNB do. Some say they may not fight it too much because of the inflation and imported goods (both for us normal people and materials needed for the industry) are rising.
"EUR/CHF has reached a new low at 1.0025 on the back of the stellar US Nonfarm Payrolls report, which has propelled the greenback to a fresh high and sent the euro into the abyss where it touches 1.0885 vs the US dollar. "
So far it is believed the SNB has not significantly intervened.
Do you think risk aversion and market sentiment as a result of the war in the Ukraine could also be a contributory factor?
Do you think that will have a bigger effect on the euro than on the CHF?
Any Roubles coming this way will need to be laundered through a third non-EU currency. The Swiss sanctions likely are slowing the increase in value of the franc.
Hopefully dirty money is looking for other opportunities.