Bruce Krasting

Wednesday FX View: Swiss Antics and OECD Report Dominate

So this am th CHF is at 1.53. They got 2% for their effort. So what? Does this small adjustment have any beneficial impact on the Swiss economy? Not really.

That the Swiss are managing a dirty float of a currency that once had a Reserve status is going to work against them. They might just succeed in they're efforts. I do not buy dirty float currencies as a hedge against anything... When we get back to 1.7 the swiss are going to regret this move. There are a lot of benefits to a strong currency. The argument for a weak currency is just a mask for an uncompetitive economy.