(Bloomberg) -- The Swiss franc headed for its
biggest weekly gain versus the euro in four months as a slump in
global stocks prompted traders to pay back loans in Switzerland
used to buy higher-yielding assets elsewhere.
The franc advanced against the Australian and New Zealand
dollars as investors unwound so-called carry trades that take
advantage of borrowing costs in Switzerland, which are the
second lowest among major economies. New Zealand's key interest
rate is 5.75 percentage points higher than the Swiss benchmark.
Read more at Bloomberg Currencies News
biggest weekly gain versus the euro in four months as a slump in
global stocks prompted traders to pay back loans in Switzerland
used to buy higher-yielding assets elsewhere.
The franc advanced against the Australian and New Zealand
dollars as investors unwound so-called carry trades that take
advantage of borrowing costs in Switzerland, which are the
second lowest among major economies. New Zealand's key interest
rate is 5.75 percentage points higher than the Swiss benchmark.
Read more at Bloomberg Currencies News
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