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The Swiss franc is creeping toward parity with the U.S. dollar, say analysts from Credit Suisse and Swissquote.
Last week the franc hit a 19-month low, according to Bloomberg news, dropping 20 percent against the U.S. dollar since incredible highs last September.
Credit Suisse analyst Bernd Berg told Bloomberg if the euro weakens because traders are avoiding the eurozone, then the franc would weaken against the dollar.
The Swiss National Bank’s spending to keep the level of the euro above 1. 20 is a fight to keep the Swiss currency from over-valuing even more, and putting pressure on exporters.
One franc is now worth about 98 cents.