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Currency News – Swiss Franc Seems To Be Under Control

After a rough few weeks for the Swiss Franc, it seems that things are finally under control – for now.

There was talk last week of pegging the Swiss Franc to the Euro, and that cause a huge sell off which brought the value back down to where the Swiss National Bank thinks it should be. There is still talk that the currency might be pegged, but if things stay at the level they are and the threat remains, they may not have to take any further action at all. Keep an eye on the Franc in relation to the USD and the Euro early this week before making any major decisions.

 

Japan Progressing, But Still Not Out Of Trouble Yet

Japan has had a very tough time so far this year. They have had a massive earthquake that all but destroyed their economy, they have been hit hard by the global financial turmoil, and the Yen has been all over the place. Things seem to be improving slowly, though.

Japans GDP numbers were released recently – they were still negative, but they beat the estimates and gave a little hope that one of the biggest economies in Asia is getting back on track.

There is no doubt in anyone’s mind that there is still a lot for Japan to do to get back where it was in the past – and a lot of factors out of its control it effecting its ability to do so – but they seem to be slowly getting back on track and making progress. Watch for the Yen to move early this week.

 

Italy’s New Plan Draws Criticism From Almost Everyone

It is no secret that Italy is in a really tough position. But, no one really knew how tough it was going to be until the new austerity package was passed and everyone understood what it entailed.

Not long after it was passed into law this weekend, all sides involved seem to be upset and no one is happy with the concessions they are going to have to make. The working class is upset at cuts and are threatening a general strike, while the upper class is not happy that the bulk of the new taxes will hit them hardest.

Everyone knows that they are going to have to make sacrifices to get out of the hole they are in, but nobody wants to be the one who has to pay for it. Since everyone seems to be unhappy, it appears that the burden is distributed somewhat equally.

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