so expect the Swiss Central Bank to step in? they said they would...
Greece crisis sees Swiss franc eclipse yen as top safe-haven
The Swiss franc has emerged as a big winner from Greece's debt problems, overtaking the Japanese yen as investors' favourite safe-haven currency despite Switzerland offering the world's lowest interest rates. Fund managers have increased their Swiss franc holdings in recent weeks, attracted by the Alpine economy's current account surplus and by falling annual consumer prices that mean investors can still eke out a positive return even with benchmark rates at -0.75 percent. The franc and the yen are traditionally favoured during times of market stress or economic uncertainty. Usually the yen is the more sought-after, ... (full story)