After 16:00 on the interbank market frank costs 3 gold and 90 cents. Gold also strengthened against the euro, which costs the afternoon 4 gold and 18 cents. Slightly more expensive for dollar, the exchange rate is 3 gold and 68 cents, and the British pound, for which you have to pay 5 gold 69 cents.
Cheaper frank does not surprise Martin Kiepas of Admiral Markets – is the effect of the announcement of the bank Swiss central readiness intervention to weaken the currency, and as a result is improving outlook for the euro, in connection with the planned launch of the European Central Bank bond purchase.
The Swiss want to weaken its currency alone
As explained Kiepas, Swiss view of weakening its currency for two reasons – it definitely weakens the strength of their exports, it also has an impact on the increasing efforts to deflation processes in the country. This explains, perhaps forcing the Swiss monetary authorities to further reduce interest rates.
Expert advises that for a long time it takes verbal intervention of the monetary authorities in Switzerland, claiming that a strong exchange rate is not conducive to the economy, and to be may force the country’s central bank to intervene.
If this does not occur, but the next head of the SNB announcement Thomas Jordan on Tuesday this week on the readiness to intervene, it definitely has an impact on the financial markets and thereby weakening franc.
According to Kiepas, it means that the rumors in the market, suggesting maintaining the franc to the euro at the level of 1.05-1.10 are close to the truth. Recall that today for the franc have to pay 1.07 euros.
Frank in Poland at the end of the year 3,80 zł
Speaking of prospects franc in Poland, an expert with Admiral Markets estimates that after the jump January 15, the Swiss currency look out of place and according to him, its value should be up in the coming months between 3.90 and 4 zł, with an indication of the lower value.
For this, he adds Kiepas, in the second half of this year, gold once again strengthen the franc and the end of the year, the Swiss currency in Poland should cost approx. 3.80 zł.
If added to this likely cut interest rates in Switzerland and announced by the Polish banks to take into account the negative Libor predicts how Kiepas, many frankowiczów installment should return to nearly pre-January 15 of this year.
IAR, abo, jk
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