[ash_thebachchan] Action Insight Daily Report 8-11-11

 

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Daily Report: Dollar Continues to Gyrate Following Choppy Equities

Although the single currency tumbled to record low against the Swiss franc earlier this week on massive safe-haven demand for franc, Swissy also nose-dived to historical low of 0.7068, both currency pairs rebounded yesterday partly due to rebound in regional stock markets and verbal warnings from SNB officials. SNB repeated that more measures to curb strength in Swiss franc will be taken if necessary, Deputy President Thomas Jordan was quoted by saying a temporary tie between the franc and the euro to stem CHF's rally would be legal under the SNB's authorization.

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Action Insight Daily Report 8-11-11

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