Demand for safe currencies weakened, but remains high.
• The British pound fluctuated in a tight range against Swiss franc for the second consecutive week (may be the first sign of the downturn completion). We issued long recommendations during the last weeks at 2.15 and 2.18. For this week good level for buying is 2.1, because the pound is still extremely undervalued against franc. Medium term targets for this currency pair are 2.199 and 2.221, accordingly....