Good news for those of you in our currency ETF picks.
Oct. 30 (Bloomberg) -- The Swiss franc extended gains against the euro after Swiss National Bank President Jean-Pierre Roth said he will ``take the necessary measures'' on interest rates should the franc's weakness stoke inflation.
The franc rose earlier after UBS AG, Europe's largest bank by assets, reported its first quarterly loss in almost five years, raising concern other lenders will also report lower earnings, crimping appetite for carry trades. Roth, who made the remarks at a briefing in Geneva, attributed weakness in the Swiss currency to ``financial euphoria.''
We've had you long the Swissie for a month or so now.
Not involved in the currency ETFs? It's a great place to start for those new to currencies. I give some longer term recommendations in the TSI newsletter mailed to households monthly. Find out how to get it here:
info@sovereignsociety.com
See how the Swiss franc has been bolstered by these comments from their central banker below.
Sean Hyman
Currency Director
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