Looking back over the past several years, the Swiss franc has gained considerably vs. the U.S. dollar, which was in large part because of broad-based U.S. currency weakness. The dollar/Swiss rate trended lower from a peak around $1.83 in October 2000 to the December 2004 low around $1.12. However, at the beginning of 2005, a minor trend shift occurred, as the dollar/Swiss gained toward the July peak around 1.3080.
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