The franc has taken a beating against the dollar, since it pretty much behaves like a slightly harder euro. Here is an hourly chart (click to enlarge):
TD Ameritrade
Sentiment readings have been super bearish here for a couple of weeks now, so we’re set for a reversal. At the least, going long the franc is not a bad way to hedge a portfolio that is long-term short risk (stocks, junk bonds, commodities).
Mike, this is the May 2010 Eclectica Letter. Although it’s still discussing on the China topic, Hendry presented some perspectives I have not seen elsewhere, e.g. comparing China to Japan 1920s (most are comparing it to Japan 1980s), their FX reserves as similar to US subprime mortgage, etc.
http://www.zerohedge.com/article/deep-thoughts-hugh-hendry-eclectica-fund-may-2010-manager-commentary
Will be nice for one of your future articles. Hendry is one of my favorite reads.