Swiss Franc ETF Climbs 20%
The CurrencyShares Swiss Franc Trust has gained nearly 20% year to date despite its recent fall.
The CurrencyShares Swiss Franc Trust has gained nearly 20% year to date despite its recent fall, ETF Trends reports. The $1.1 billion ETF tracks the Swiss franc against the U.S. dollar. The franc is at par with the euro and has breached that barrier with the U.S. dollar. The euro zone crisis and the U.S. debt burden have contributed to its strength. The rising franc is also affecting hedge fund staff who have moved from Britain to Switzerland and receive the bulk of their pay in dollars.
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