Investment - Articles - Aberdeen Asset Management comments on the Swiss franc

 Mike Turner, head of global strategy and asset allocation, comments on the Swiss Central Bank's decision on a minimum exchange rate of SFr1.20 against the euro in order to stem the Swiss franc's appreciation:
 "Perversely intervening versus the Euro will help support the Euro's value when really that currency should be depreciating allowing an improvement in competitiveness versus Asian and other emerging countries for example, which will aid the anaemic growth rate in the periphery."

 "What we are witnessing though is more unilateral action to tackle the growing sense of crisis across Europe. What we need is coordinated action to solve the mess and we are just not getting that from politicians, or indeed Central banks. There is absolutely no sign of effective coordinated policy making. I don't see this ending prettily and SNB efforts are just a side show related to their own domestic situation."