Home Forex Trading SNB: Investors increasingly looking for safe havens such as CHF – ForexLive

SNB: Investors increasingly looking for safe havens such as CHF – ForexLive

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SNB on the newswires

SNB says:

  • coronavirus has increased the economic risks
  • if international environment were to deteriorate, this would have consequences for Switzerland as a small open economy
  • direct economic influence also possible via some trading partners such as China
  • investors increasingly looking for safe havens such as Swiss franc in times of uncertainty

The SNB warned earlier this week that they would look to intervene in the forex market should the CHF continue to strengthen.

The EURCHF is trading below the 1.06 level at 1.0585 currently. The move today has taken the price to the lowest level since 2015.

The comments seem to suggest that Switzerland is certainly not immune from the coronavirus and should not be considered a safe haven currency.

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