The Swiss now find themselves strapped with a currency overvalued by more than 30 per cent, Ms. Kubli estimated this week. As of Friday, the Swiss franc traded at 77 cents against the U.S. dollar, a 16.7-per-cent increase this year. Against the euro, it is now near parity at 1.1 francs, an 11.3-per-cent jump this year. It’s an ironic kind of reward for a country that has so far managed to stave off economic disaster. The Swiss are learning there’s a downside when the class nerd becomes the most popular kid during exam time.
Read Full Article »
