Swiss franc: traders once bitten, twice shy
Burned by carry trades in that currency, they are reluctant to re-enter market, worried about franc's stability
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WHEN it comes to Swiss franc carry trades, it's a case of once bitten, twice shy.
Switzerland's negative interest rates mean investors are effectively being paid to borrow francs, which they could then use to purchase higher-yielding assets denominated in other currencies. Carry trades funded in the Swiss franc would have made more this month than deals using either euros or yen, data compiled by Bloomberg shows.
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