Analysis:Investors set sights on Swiss franc for popular carry trades after yen intervention

LONDON, Aug 19 : A weaker Swiss franc could be an unexpected consequence of recent rare U.S.-Japanese intervention to prop up the yen, bringing relief to companies and policymakers in Switzerland who have grappled with the strength of their local currency for years. The franc is still 12 per cent stronger against the euro than five years ago, despite some recent softening, thanks to Switzerland's persistent current account surplus, sound public finances, low inflation and safe-haven inflows. Its strength has made the country's exports more expensive and squeezed economic growth.Both the yen and the franc are influenced by the FX carry trade and weaken when investors borrow in these currencies with low interest rates to sell them and buy higher yielding assets elsewhere, often emerging mark