Published at 02:20 (GMT) 30 Oct

Fx Market Alerts

WSJ: While the spotlight has been on the aggressive drive by the U.S. govt to flush tax dodgers out of Switzerland, bankers here are instead grappling with the loss of a much richer clientele: Europeans. Americans have made up no more than 5% of Switzerland's $1.8 trillion offshore-banking business. But European clients are steadily coming clean, spooked by threats of a crackdown by their own governments. The tax crackdown isn't the only factor driving European money away. Many European baby boomers are also anxious to bring money home to recapitalize sagging businesses or pass the money on to their children. Citizens in Italy, Germany and France -- the big three tax-dodging nations -- stashed their money in Switzerland On FX, good to watch any good German, Italian, French banks demand for EUR/CHF on the above, with EUR/CHF at 1.5105-10, eye test of 1.5200, while USD/CHF at 1.0175-80, eye 1.0300.WL