Economics
Mysterious Swiss Franc Slide Shows Reach of Russia Sanctions
- Swiss currency drops on days turmoil supports other havens
- Investors nervous as sanctions dent Swiss safety: Swissquote
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Nervous Russian tycoons may be driving a selloff in the Swiss franc.
The currency’s slide this week has been out of character with its status as a safe asset during times of market turmoil. The franc has fallen to its weakest level versus the euro since January 2015 while the yen, also a haven, has gained as the U.S. threatened military action in Syria, escalated a trade spat with China and slapped sanctions on Russian oligarchs.