I guess it also reflects the prospects of the expected FED rate hike while the swiss national bank may not follow suit.
Either ways the holidays to the US just got expensive.
The swiss Franc has depreciated around a whopping 6% against the USD since the war in Ukraine begun. Euro is faring worse. However, the Franc safe heaven appeal is a bit questionable with such slide.
The SNB are far more interested in the EUR rate than the USD and act/intervene accordingly.
Fortunately most of us holiday in Europe!
I think it's a very pretty picture. I bought dollars at $1.15 and sold at $1.35 to the CHF in the 90s. Historically the $ has been up to $1.70.
The Swiss franc has been overvalued for too long. €1.40 would be nice too...
This 50-yr trend is not your friend.
Thank goodness the relative weakening of the Swiss franc against the dollar has somewhat mitigated the loss of value of $ shares.
A big mac in the US costs $3.99. In Switzerland over $6. I think holidays in the US might still be cheap.
Funny how OP pops the question and then disappears.
Probably realised it wasn't the smartest post ever made.
The kind of people that worries about 6% changes of an inherently unstable variable is not really that into money. 6% more is like wind is blowing from the East. Tomorrow it can be blowing from the North, and after tomorrow from South.
I take it as stereotypical venting against "X got expensive". This is a way of life, nothing related to finance and data.
It's about time!
Green is beautiful!
this! anybody with stock in US companies should be happy
Not just stock. US bank accounts also.
Basically, a devalued Swiss franc will bring joy to the Swiss economy. Both industry and tourism will benefit from it.
Possible. But then again, maybe he just wanted to fill his quota of one post a month.
It was $2.35 or so when I first came here in '82, and double that in the early '70s.
Tom
6% change over roughly 6 weeks is not a change of wind but rather goes on to show a policy chnage. This too for CHF doesnt happen every month or for that matter every year.
Ok smartie
Compared to Bitcoin this is peanuts.
I guess you had generous dosing of anxiolytics on 15.01.2015 +19% on one day...
...and a healthy amount of absinthe on 06.10.2021 +6.7% in the CHF/USD in one day too.
So, the sky is not falling, yet
Shows why it's important to be adequately diversified in assets / currencies.
Have to imagine a lot of it is that the US economy is still doing relatively well compared to most of Europe, and the fed are raising interest rates quite aggressively.
I can't imagine the SNB will be raising rates anytime soon as they love a weaker franc, but if they do then that could have an impact on mortgages / property here eventually
Own property, got a mortgage and getting nervous?
Nope. Renewed last summer fixed for 8 years at 0.8%...