Not exact matches
The Swiss food giant posted net income of 7.2 billion Swiss
francs ($ 7.76 billion),
versus 9.652 billion
francs expected by analysts in a Reuters poll.
Whereas the Canadian dollar is up just over 3 %
versus the US dollar in the last 12 months, the Swiss
franc, Japanese yen and Chinese yuan have appreciated in the high single digits, while the euro and British pound have strengthened in the teens.
Capital Markets Foreign Exchange Currency pegs around the world are threatening to come unglued following the Swiss National Bank's surprise move to drop the exchange rate floor of the euro
versus the Swiss
franc.
Switzerland made headlines in the quarter when its central bank allowed the
franc to float freely, but the effect, though initially substantial
versus the euro, proved to be modest over the quarter relative to the dollar.
Currency Hedges While the Swiss
franc and Australian dollar weakened
versus the U.S. dollar during the quarter, we continue to believe they are overvalued.
However, both the Swiss
franc and Australian dollar strengthened
versus the U.S. dollar.
The removal of the cap, which had pinned the currency at 1.20
francs per euro, caused a significant drop in the euro
versus the Swiss
franc.
Since the peg, the
franc has fallen more than 20 percent against the U.S. dollar, via the euro's slide
versus the greenback.
A US based trader might sell $ 10 million
versus the Brazilian real at 2.4000 for BRL 24,000,000 and at the same time buy $ 10 million
versus the Swiss
franc at CHF 0.9000 for CHF 9 million — both deals in the spot market.
Whereas the Canadian dollar is up just over 3 %
versus the US dollar in the last 12 months, the Swiss
franc, Japanese yen and Chinese yuan have appreciated in the high single digits, while the euro and British pound have strengthened in the teens.
The most heavily traded forex pairs are: EUR / USD, USD / JPY, GBP / USD, and USD / CHF, which are the euro, Japanese yen, British pound, and Swiss
franc rates
versus the US dollar.
And their appetite for retail ebbs and flows with the cycles of the stateside real estate investment marketplace and the fluctuating value of Euros, deutsche marks, guilders,
francs and riyals
versus the U.S. dollar.