Suddenly the Swiss franc is no longer too strong, but too weak: That’s why the National Bank has to support the national currency
The Swiss National Bank had to intervene to prevent the franc from depreciating. Has the Swiss franc lost its safe haven status?
Suddenly, what was previously a matter of course must be made clear. “The franc is and will remain a strong currency,” writes Thomas Stucki, head of investment at the St.Galler Kantonalbank – and one immediately wonders what happened that a defense speech for the Swiss franc is needed at all? Why is its strength doubted and by whom? All the more so as there are great fears of a recession, an energy crisis or even the Third World War, and in such uncertain times the franc always appreciates and tends to be too strong, not too weak. So what happened?