Back in April, I made the argument that the Swiss franc had reached a bottom, and we could expect the currency to rise from here.
In the past month, we see that the Swiss franc has seen significant growth against the greenback, outpacing even that of the Japanese yen:
Source: dailyfx.com
The main reasons that I had hypothesised the franc to grow significantly were:
- Potential overheating of the Swiss property market necessitating a rate hike
- The currency has shown significant strength against the euro in spite of negative rates
- Growth in the currency is being