To a believer in sound cash – ie, gold – the concept a paper foreign money can ever be excessive-high quality is fatuous.
The period of quantitative easing has strengthened
however even now, some currencies have larger attraction than others. The Swiss franc continues to look sturdier than the euro, for instance.
I wrote on November thirteen – when the euro/Swiss franc change fee was 1.342 – that the only foreign money was more likely to weaken additional and make new all-time lows.
It started a steep decline six days later, dropping under its earlier report trough at 1.276 and really almost reaching my subsequent goal at 1.2381.
Regardless of rallying recently, I don’t consider the euro/Swiss franc’s descent is over.
I might nonetheless be eager to promote euros and purchase Swiss francs on a reversal occurring round both the 21 or fifty five- week exponential shifting averages, concentrating on a drop to new lows.
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