Is Singapore the Asian Switzerland?
Mikhail Aristakesyan submits: This currency pair drew our attention by the fact that Switzerland and Singapore have many things in common, as sometimes Singapore is reasonably referred to as “Asian Switzerland.”At present, the Swiss franc is one of the strongest currencies worldwide. The Swiss franc is not far from all-time highs against both the US dollar and the euro. Also, the Swiss franc trades fairly high against the Singapore dollar, around SGD 1.36. Having no intention whatsoever to deny that the economic environment in Switzerland is better than in the United States and the Eurozone, I would like to emphasize that to a large extent the Swiss franc’s strength stems from its status of a save heaven currency.Complete Story »