Swiss franc: safe-haven currency?

Chris Walker at UBS in London

Throughout the year, US dollar weakness and uncertainty around eurozone sovereign issues have been the most dominant themes affecting the expectations of currency strategists, but many say the Swiss franc has become a more desirable currency for investors than it used to be.

In a sign of the Swiss currency's strength, USD/CHF fell from a high of 0.98 on January 11 to 0.86 on May 4. That's a far cry from the franc's much weaker position a year ago, when the currency pair was hovering around 1.17

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