Investors Flock to Nordic Currencies After Snb Move

Summary

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LONDON (Reuters) - Investors seeking refuge from euro zone debt woes are embracing Nordic currencies as safe haven alternatives to the Swiss franc, attracted by solid economic fundamentals, higher interest rates and little risk of central bank intervention.

Since the Swiss National Bank said on Tuesday [Sept. 6] it would enforce a minimum exchange rate target of 1.20 francs per euro the single currency has tumbled as much as 3 percent to an eight-year low of 7.4880 Norwegian crowns.

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Investors Flock to Nordic Currencies After Snb Move

The Swedish crown also rallied, hitting a three-month high of 8.9444 against the single currency, despite the Swedish Riksbank keeping interest rates on hold and lowering it...

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