As a result of the Greece crisis (among other things), the euro has tanked. That left the door wide open for the Swiss franc and its related exchange traded fund (ETF) to hit new records, but not everyone is rejoicing.

Amid Greece’s mounting debt worries, the euro has lost much of its allure. That eventually sent the euro down to an all-time low against the Swiss franc this week, explains Fabio Alves for The Wall Street Journal.

But the Swiss franc’s new strength is being called a burden for Switzerland’s economy and export industry and cause for concern, its economy minister said this week. [The Best Currency ETF Guide.]

That concern aside, the Swiss National Bank is making no effort to intervene on the currency’s quick rise. The bank was heavily involved in fighting the franc’s appreciation over the last year, but backed off in December. It will now only step in if the franc’s strength leads to any risk of deflation, Reuters reports. [Canadian Dollar ETF Is On a Tear.]

For more stories about currency ETFs, visit our currency ETFs category.

  • CurrencyShares Swiss Franc Trust (NYSEArca: FXF)

  • CurrencyShares Euro Trust (NYSEArca: FXE)

  • WisdomTree Dreyfus Euro (NYSEArca: EU)

Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.