{"id":281294,"date":"2011-02-24T19:06:33","date_gmt":"2011-02-24T19:06:33","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/"},"modified":"2011-02-24T19:06:33","modified_gmt":"2011-02-24T19:06:33","slug":"dollar-sinks-swiss-franc-strengthens-on-oil-fears","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/","title":{"rendered":"Dollar sinks, Swiss franc strengthens on oil fears"},"content":{"rendered":"<p><div readability=\"71.3995260664\">    <!-- KEEP --><a href=\"http:\/\/money.cnn.com\/data\/currencies\/index.html\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/545c7e30chf_usd.top_.png\" alt=\"The Swiss franc rose to an all-time high against the dollar on Thursday.\" width=\"475\" height=\"280\" border=\"0\" class=\"cnnstoryImageFull\" \/><\/a><span><b>Click chart to track currencies.<\/b><\/span><span id=\"fb-recommend\"\/><br \/>\n<span>By Charles Riley, staff reporter<\/span><span>February 24, 2011: 1:14 PM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><!--endclickprintexclude--><!-- CONTENT --><\/p>\n<p>NEW YORK (CNNMoney) &#8212; The greenback suffered a wide retreat Thursday, as worries over spreading violence in the Middle East pushed oil prices in excess of $100 a barrel.<\/p>\n<p>Rising oil prices are a negative force on the dollar, because the U.S. economy relies to a large degree on oil imports.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>Oil prices held steadily <a href=\"http:\/\/money.cnn.com\/2011\/02\/24\/markets\/oil\/index.htm\">above $100 a barrel<\/a> Thursday, after briefly breaking the barrier the previous day. Early in the morning, the U.S. benchmark oil contract for April delivery jumped as high as $103 a barrel. <\/p>\n<p>Kathy Lien, the director of currency research at Global Forex Trading, said the persistent rise in oil prices was driving currency markets &#8212; to the detriment of the dollar.<\/p>\n<p>The greenback suffered losses against almost every currency, because at the end of the day &#8212; the U.S. economy will be hurt a lot more than other countries by rising oil prices, Lien said.<\/p>\n<p>Usually thought of as a &#8220;safe-haven&#8221; currency, the dollar was a place to invest during periods of upheaval. But with crude prices increasing so rapidly, investors have been forced to look elsewhere. <\/p>\n<p>According to Lien, the <a href=\"http:\/\/money.cnn.com\/2011\/02\/03\/markets\/swiss_franc\/index.htm\">Swiss Franc<\/a> and Japanese Yen are the primary beneficiaries of the dollar pushback. On Thursday, the Swiss franc rose to an all-time high against the dollar.<\/p>\n<p>Swiss currency has spiked more than 20% against the dollar since June, with Europe&#8217;s sovereign debt crisis and the recent rise in oil prices providing most of the boost.<\/p>\n<p>The Franc is particularly attractive to risk-averse investors for a few reasons. Switzerland, unlike many other countries in Europe, has a relatively low debt level &#8212; and its economic recovery has outpaced that of the United States.<\/p>\n<p>And compared to the U.S., its economy is far less dependent on oil, and should weather the current crisis with comparative ease. \u00a0<a href=\"http:\/\/money.cnn.com\/2011\/02\/24\/markets\/dollar_swiss_franc\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!-- \/CONTENT --><!--startclickprintexclude--><!--startclickprintexclude--><br \/>\n<!--endclickprintexclude--><br \/>\n<!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"\" \/><\/p>\n<p>Read this article:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/2rgZ5WmoyJM\/index.htm\" title=\"Dollar sinks, Swiss franc strengthens on oil fears\" rel=\"noopener noreferrer\">Dollar sinks, Swiss franc strengthens on oil fears<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Click chart to track currencies. By Charles Riley, staff reporter February 24, 2011: 1:14 PM ET NEW YORK (CNNMoney) &#8212; The greenback suffered a wide retreat Thursday, as worries over spreading violence in the Middle East pushed oil prices in excess of $100 a barrel. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-281294","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar sinks, Swiss franc strengthens on oil fears - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Dollar sinks, Swiss franc strengthens on oil fears - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Click chart to track currencies. By Charles Riley, staff reporter February 24, 2011: 1:14 PM ET NEW YORK (CNNMoney) -- The greenback suffered a wide retreat Thursday, as worries over spreading violence in the Middle East pushed oil prices in excess of $100 a barrel.\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/545c7e30chf_usd.top_.png\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Dollar sinks, Swiss franc strengthens on oil fears\",\"datePublished\":\"2011-02-24T19:06:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/\"},\"wordCount\":333,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/545c7e30chf_usd.top_.png\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/\",\"name\":\"Dollar sinks, Swiss franc strengthens on oil fears - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/545c7e30chf_usd.top_.png\",\"datePublished\":\"2011-02-24T19:06:33+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/#primaryimage\",\"url\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/545c7e30chf_usd.top_.png\",\"contentUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/545c7e30chf_usd.top_.png\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dollar sinks, Swiss franc strengthens on oil fears - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/02\/24\/dollar-sinks-swiss-franc-strengthens-on-oil-fears\/","twitter_card":"summary_large_image","twitter_title":"Dollar sinks, Swiss franc strengthens on oil fears - Ghanamma.com","twitter_description":"Click chart to track currencies. 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