NEW YORK ( TheStreet) -- Swiss equities were surprisingly weak versus other markets Wednesday, but the Swiss franc looks to have room for an upside move in the near futureWednesday saw another selloff in global equities, and Swiss equities, usually a staple of stability, sold off more than their peers. The issue lies in a potential legal scandal among the companies that comprise the Swiss index. Allegations have been made that major European banks colluded to manipulate the foreign-exchange market. Regulators are looking into UBS ( UBS) and the Swiss National Bank. Both are heavily weighted in the iShares MSCI Switzerland Capped Index ( EWL) shown below.