Friday, February 25, 2011

Swiss has jumped on the growth of oil

The greatest buying interest this week brought the Swiss franc, Japanese yen and the Norwegian krone against the background of extraordinary events in Libya and the incredible volatility in oil prices. Frank was the star, adding to the dollar for more than 5% over the past two weeks. The Norwegian krone has grown over the same period by 4,4%. For comparison, the pound has suffered more than other major currencies on fears that the country will not be able to withstand such an increase in oil prices, especially when intense fiscal consolidation. Despite the losses this week, the pound is still the best on the dynamics of the beginning of the year. Thus, if oil prices continue to rise, as British consumers - are affected (as indicated by some polls in the week), while sterling could easily give some of their gains, quickly returning to the ground.

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