If you missed selling the yen before its big swoon, cheer up. There could be another great currency-selling opportunity on the horizon.
The Swiss franc was stuck at 1.20 euros for nearly all of 2012, thanks to a peg set by the Swiss National Bank in the fall of 2011 when the euro zone was deep in crisis mode. By effectively setting a floor below where the euro could fall against the Swissie, the move mollified Swiss exporters who were struggling to contend with local currency strength.
But the euro has been rocketing higher against any number of currencies, and the Swiss franc is no exception. And with so much bullish sentiment around the euro, investors are starting to wonder whether it still makes sense to stick with the safe-haven Swissie.
Their trading decisions will likely hinge in large part on what European Central Bank President Mario Draghi has to say at an upcoming governing council meeting. "If Draghi does not voice any concern about the euro, the euro goes higher, and euro-Swiss will likely go higher," says Rebecca Patterson, chief investment officer at Bessemer Trust. She told CNBC's Melissa Lee that "if you do get concern out of Draghi or the leaders at the summit later in the week and you get some weakness in the euro, that's probably an opportunity to buy euro-Swiss."