Bank quake drives investors to safe currency havens

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There’s a lot going on in the international financial markets right now! After bankruptcies in the US, Credit Suisse has done the right thing. Shares of the big bank at Paradeplatz fell as much as 25 percent today Wednesday. The main reason for the collapse was the statements of the main shareholder, the Saudi National Bank. He spoke out against further financial injections for Credit Suisse.

Result: CS papers fell below 1.60 francs. CS stocks have never been cheaper.

The bank tremor is pulling down stock markets around the world. Investors and shareholders are getting restless. Back off. Or they sell their assets. But what to do with the money? As always in such crisis situations, the safe-haven Swiss franc attracts.

Back to strength

The Swiss franc has continued to depreciate against the euro and dollar in recent weeks due to different interest rate expectations from central banks.

On Wednesday, the franc will return to its former strength. Euro feathers. While the Euro-Frank pair was still above 0.98 in the morning hours, it fell as low as 0.9750 francs in trading so far. Meanwhile, the dollar-franc exchange rate rose to 0.9238 francs. Japanese yen, government bonds and gold are also in demand. (be)

Source :Blick