The Swissie looks like it’s headed below par, to a Hidden Pivot support at 0.9845. That would be a far cry from the four-francs-to-a-dollar price that obtained when we traveled in Europe during our college days, but it would nonetheless go a considerable ways toward ameliorating the price disadvantage that the country’s manufacturers have suffered in recent years. Although we asserted here earlier that the Burgher mentality would eventually prevail, rescuing the currency from the global dungheap of competitive devaluations, the tradeoff of a cheaper swiss franc for higher import costs may prove bearable because the currency was so overpriced to begin with.
