(Bloomberg) -- The Swiss franc rose to its highest in
more than two years against the dollar as investors sold riskier
assets, such as equities, and repaid loans taken out in the Swiss
currency.
The franc advanced against 14 of the 16 most-traded
currencies as stocks in Europe and Asia fell, following a drop in
benchmark U.S. equity markets last week. Traders unwound so-
called carry trades, where they borrowed the franc to buy higher-
yielding assets, on concern U.S. subprime mortgage losses will
erode economic growth.
Read more at Bloomberg Currencies News
more than two years against the dollar as investors sold riskier
assets, such as equities, and repaid loans taken out in the Swiss
currency.
The franc advanced against 14 of the 16 most-traded
currencies as stocks in Europe and Asia fell, following a drop in
benchmark U.S. equity markets last week. Traders unwound so-
called carry trades, where they borrowed the franc to buy higher-
yielding assets, on concern U.S. subprime mortgage losses will
erode economic growth.
Read more at Bloomberg Currencies News
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