Interest Grows in Sweden's Krona as a Currency Safe Haven
Published on: Sunday 29 April 2012
With economies of countries using the euro in turmoil from Spain to Greece last year, investors have been looking for a safe haven from the storms of currency market volatility. The traditional European safe haven was the Swiss franc, but since the Swiss National Bank imposed a currency floor against the euro in September last year, meaning it cannot appreciate above 120 to the euro, investors have shunned that currency. At the same time, the fact that the Bank of Japan has embarked on a program to weaken the yen has dimmed the Japanese currency as a safe haven.
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