(Bloomberg) -- The Swiss franc advanced on
speculation widening losses on bonds backed by subprime mortgages
prompted investors to unwind so-called carry trades funded by
borrowing in the currency.
The franc gained against 15 of the 16 most-actively traded
currencies after Germany's IKB Deutsche Industriebank AG reported
losses on U.S. subprime mortgages and the risk of holding
corporate debt surged to a record. The Swiss currency rose to the
highest in more than three months against the euro.
Read more at Bloomberg Currencies News
speculation widening losses on bonds backed by subprime mortgages
prompted investors to unwind so-called carry trades funded by
borrowing in the currency.
The franc gained against 15 of the 16 most-actively traded
currencies after Germany's IKB Deutsche Industriebank AG reported
losses on U.S. subprime mortgages and the risk of holding
corporate debt surged to a record. The Swiss currency rose to the
highest in more than three months against the euro.
Read more at Bloomberg Currencies News
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