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Currency News – Swiss Franc Skyrockets

As confidence continues to erode all around the world, the Swiss Franc continues to gain against almost every other currency. Traditionally, when things get bad, investors like to put their money in the Franc – it is a safe haven currency.

This isn’t all good for the Swiss, though – they intervened not to long ago to keep things under control, but it seems that their efforts were all for not. It just keeps on going higher and higher against almost every other major currency around. At this point in time, there really isn’t anything the administration can do – an intervention won’t do much at this point. They are at the mercy of the market.

 

US Federal Reserve Will Keep Interest Rates Low

The Federal Reserve reported today that they are going to keep the US interest rate near 0 for the next two years and if necessary, perform some other actions to help stimulate the economy. They only problem is that they didn’t say what those actions were.

This led the stock markets to bounce up and down, with no real gains or losses being made at the end of the day. There is almost no confidence in the US economy right now and the future looks gloomy – investors are just hanging on for the ride.

Something else to take away from the Fed message – since they stated that they are going to keep the rates low for 2 years, this is a strong indication that they think this is how long it is going to take for the economy to recover. This isn’t really the news that everyone is looking for – they want results now.

 

US Dollar Continues To Fall

As the Federal Reserve released information today on how they expect to proceed in the near future, the Dollar continued to fall drastically, down almost 5% against some major currencies.

A lot of people are disappointed that the Fed didn’t really offer a plan that will help the economy recover – they just said they are going to keep things the same as they are for the next two years. At a time like this when we need action, they seem to have fallen asleep at the helm.

In the end, though, the lower US currency could help stimulate the US export economy and help fuel growth, but there is so much more to be done. We need action, and we need it now.

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