Swiss franc strength attributed to 'absolutely no liquidity'

Zurich

The seemingly unstoppable strengthening of the Swiss franc, which saw €/Sfr reach a record low of 1.01 on August 9 and $/Sfr dip to 0.71 on the same day, should be attributed to reduced liquidity during August and the ongoing effects of the European sovereign debt crisis, according to currency strategists. "The speed at which the Swiss franc has strengthened is partly due to the fact there is absolutely no liquidity in the market at the moment. It is summer, and a lot of people are away.