The Swiss franc and the Euro are now close to parity.
This is mainly due to the strength of the Euro. At the beginning of the year, the franc was performing well, but analysts say there have been several factors which has turned things around.
Markets believe the Eurozone should be heading for an economic recovery and globally the world’s economy seems robust. This is reducing the effect of the safe haven that the franc has been benefitting from recently.
Also, the Swiss National Bank has cut interest rates faster than other central banks – and forecasters expect the SNB to cut again next month.
While the rest of this year the franc could see some volatility – say analysts – the currency will remain firm. They point out Switzerland has low inflation, a budget surplus and political stability.
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