The Swiss economy has outperformed most of its regional neighbors and its currency, the franc (CHF), has undergone a meteoric rise over the past two years. Rumblings from within Switzerland, however, seem to show an economy teetering on the brink of a downturn.
The Swiss National Bank (SNB) recently debated ways to curb the franc’s rising strength, to no avail. Traders now see reports being published which show the Swiss economy getting gouged by their currency’s penalizing strength and appeal. The ZEW report from this morning was the latest in a series of data which showed Switzerland’s economy taking a beating. How much longer can the SNB hold out before it moves against the crushing weight of its own currency?
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