After the substantial growth recorded in trade-weighted index at the beginning of the month, Swiss calmed down a bit, and this naturally played the role of the dollar recovery, along with the stability of the euro against the backdrop of the ever-growing sovereign debt crisis. Morning trade data for October showed higher than expected surplus of the size of 2.1 billion Swiss francs, with the highest export growth rate over the past 18 months. Although data for the month does not play a big role, they have launched the trend to weaken, which was recorded in mid-year. The current "risk free" phase continues to support the dollar, but the environment must support and Swiss on a comparative basis within Europe.
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