NEWS

Investors remained optimistic for the second week in a row as safe haven currencies fell down – Swiss franc’s and Japanese yen’s exchange rates against the US dollar were lower. CHF hit the tow-week lowest point against USD. Market awaits FED’ symposium.

Middle of August saw investors coming back to some more risky assets and dropping safe haven ones – as they decided rather not to buy Swiss francs, Japanese yen and gold and instead choose US dollar. USD was up on Friday against major currencies and on course to end the whole week being the winner.

With appointment of the new UK Prime Minister, Boris Johnson, the no deal Brexit is highly possible. Johnson states his country will leave EU by the end of October, whether there is a deal or not. What could a no deal Brexit mean for Switzerland – its economy and banking industry? Does Switzerland have separate deals with the UK?

Trade war between China and the US has been reignited again and as tensions grow, currency market also is influenced. Investors turn to buy safe haven currencies like CHF or JPY and Swiss, Japanese policymakers are under pressure to act in order to stop overvaluation of their currencies.

Switzerland has again become more attractive to cross-border commuters. In the second quarter of 2019, the number of cross-border commuters increased to 323,000, an increase of 2.4 percent compared to the same period last year. What are the reasons?