21.   Oil is priced in dollars on international markets, meaning French oil companies get more francs for their sales when the dollar strengthens.

22.   Since oil is priced in dollars, Total gets more francs for its oil sales when the dollar rises.

23.   Since oil is priced in dollars, Total gets more francs for oil sales when the dollar rises.

24.   Swiss companies also get fewer francs when they bring home their foreign earnings.

25.   Swiss companies get fewer francs for their income abroad when the Swiss currency strengthens against other currencies.

26.   Swiss exporting companies with sales in the U.S. are hurt by a weak dollar because they get fewer francs when they bring home their U.S. earnings.

27.   Swiss companies also get fewer francs when they bring home their foreign earnings when the franc rises.

28.   That means Bic gets more francs for the dollars it earns.

29.   That means LVMH will get more francs for the pound proceeds of the Guinness share sale.

30.   That means Swiss companies get more francs when they translate their revenues into the Swiss currency.