Search ForexCrunch

There’s talk that the Libyan government led by Colonel Muammar al-Gadaffi and the military leaders of the Libyan rebels based in Benghazi have reached a deal on a ceasefire.

Local agreements have been reportedly reached in the main cities that have seen fighting such as Misrata and Brega.

NATO is still bombing Gadaffi’s forces and Gadaffi in particular, trying to win the war. But the rebels on the ground understand that without s surge in NATO’s efforts, a victory isn’t near and the stalemate is likely to continue.

A ceasefire will open the road to some kind of power-sharing agreement in the North African country. Libya produces high quality oil that is sent to Europe. When the civil war began in February, the price of oil surged and added to the factors weakening the dollar and helping the Swiss franc rise.

A confirmation of this rumor might send USD/CHF higher.

Further reading:  Gaddafi to Zimbabwe?

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.