Here are the charts for the Euro (the pre-2000 figures for EUR are derived, presumably) and Swiss Frank against a basket of currencies since 1990:
Import the Third World
1 hour ago
Tuesday, 12 October 2010
Currency Wars; EUR, CHF
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3 comments:
I'm not sure what we're meant to conclude?
Isn't the key feature of having an independent currency that it can be devalued during a recession, preventing the need to reduce capacity?
If that's so, then this chart really doesn't say much about the Euro other than it devalued during a recession...
I think in hindsight the CHF was the place to hide for the duration of the crisis, barring gold and silver.
OP, you can conclude what you like. The point about devaluations is that not everybody can do it at the same time.
SL, yeah, but where's the place to hide now?
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