Interesting article right here… check it out. New UBS CEO sees changes to Swiss banking secrecy - Yahoo! News
How do you think it will affect the USD/CHF pair? I’ve been long on the dollar vs. the franc for awhile now, and am up a few cents. I have to think that this news will be bad for the Franc. If that’s combined with big-wigs having less money to invest there, I could see that leading to having the effect of less demand for Francs, and thus a significant Dollar-positive jump in that pair.
However, I suppose it could also be argued that this would cause deflationary pressures in Switzerland, thus making the Franc stronger.
Anyone have any insight?