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Currency News – US Dollar and Euro Jump Against Swiss Franc

In a continued attempt to get the Swiss Franc under control, the Swiss National Bank declared that it was considering pegging their currency to the Euro – a move that made the Euro and the US dollar jump almost 6 percent against the Franc.

Nothing is confirmed yet, but the SNB is considering almost anything when it comes to getting their situation under control – no matter what they do, their currency just continues to rise out of control.

It will be some time before a decision is made on whether to peg the Franc to the Euro, but if they do, there is a very good chance an increased level of volatility will manifest itself and currency investors will be in for another wild ride.

 

Asian Stocks Up Early On Friday

After getting hammered for almost a week, Asian stocks bounced as investors came looking for a deal and bought up undervalued stocks in droves.

Some people think this is a response to the US jump that happened on Thursday, while others think it has to do with the ban on short selling in some European countries that will begin on Friday. Whatever the case, there is a good chance that it will not last, and most people will put their money back in Gold and the Swiss Franc when things return to normal.

 

China Just As Bad As US When It Comes To Debt?

It seems as though whenever the US starts to have some financial issues, the Chinese administration is always one of the first to speak out. Of course, they are one of the US’ biggest creditors, but they always seem to be preaching their values and how they are disappointed with the way the US handles their fiscal policy.

But, when you look at the actual debt situation in China, you may see a different picture. It seems as though most metrics will say that China is in a better position financially than the US, but in reality they aren’t much better. They have amassed a huge amount of debt in the last few years to try and deal with the world financial crisis, and with economic growth slowing, they may be having a crisis of their own soon as well.

This is not to say that you should be worried about this when analyzing the Yuan, but you should at least keep it in mind when thinking long term.

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