The Swiss franc was out of the game last week, but in a severe risk aversion by the end of the year, the currency was once again attract more attention. It is interesting that the Swiss has been significantly undervalued compared with other currencies, in their role of "safe" (Yen and dollar) over the past 24 hours, although it may be a temporary phase of development, reflecting the expansion of dollar short positions. If the last crisis in the euro will continue, the Swiss currency is likely to attract significant flows of capital, instead of problem-euro. In the last few days have been some signs that the reserve managers in forex shifted their pressure on the euro other major European currencies - the Swiss franc and pound. This trend is likely to continue in the near future.
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