FX.co ★ Swiss franc is a safe haven for investors

The Swiss franc gains popularity among investors as one of the most reliable currencies especially amid the debt crisis in Europe and threatening technical default in the USA. This opinion was expressed in The Wall Street Journal which called the Swiss franc the shelter for investors.
The Swiss franc rate against the US dollar has gained 30% during the last year and 5% during July 2011. On July 25 the franc reached the maximum against dollar at 1.2408 showing the increase by 1.6% compared to the closing price on Friday, July 22.
The common currency also falls against the Swiss franc. During the last year the euro rate declined by 15% against franc and almost 5% during July of the current year.
In the middle of June the euro hit the record low at 1.2049 against franc. On July 26 the euro traded at 1.1642 against franc.