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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Alias Shrugged who wrote (550)	9/3/1998 9:53:00 AM
From: Henry Volquardsen	Respond to of 3536

FWIW the Swiss are more exposed than the US is. They have more investments in emerging markets, relative to their size, than the US. Their big banks have been among the largest losers from the Russian melt down. Also on a currency basis they are very much trying to mitigate their safe haven status. In recent years hot money flows from Europe have driven the currency up and resulted in a major recession in Switzerland. The Swiss don't want a repeat and try to manage currency stability to the dmark, soon to be euro. The newsletter writers, whom I have an extremely low opinion of, who keep trumpeting the Swiss franc as a currency fortress are talking about a situation which hasn't existed for about 10 years.