“The risk of a deindustrialization is still there at 1.20. Smaller and midsized companies cannot invest or replace staff,” Schneider-Ammann added.
More recently, the Swiss franc has gained additional strength against the euro, which Schneider-Ammann has attributed to ratings firms’ downgrades.
“The downgrades by rating agencies that have led to uncertainty, pushing many towards the Swiss franc,” the economic minister said.
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For more information on the Swiss currency, visit our Swiss franc category.
Read the disclaimer; Tom Lydon is a board member of the funds for Rydex|SGI.
Max Chen contributed to this article.