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Post by jeffolie on Jan 15, 2015 4:49:45 GMT -6
Swiss franc rises sharply after central bank removes euro cap By Karen Friar Published: Jan 15, 2015 (MarketWatch) -- The Swiss franc surged after Switzerland's central bank said Thursday it is scratching its minimum exchange rate of 1.20 Swiss francs to the euro. The Swiss currency CHFEUR, +15.42% quickly rose above parity against the euro, gaining 33% to €1.1170. It also jumped 31% against the dollar CHFUSD, +14.41% to $1.2888. The Swiss National Bank adopted the currency cap in 2011 to protect the country's economy, but said in a statement that "enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified", given the depreciation of the euro against the dollar has caused the Swiss franc to weaken. In its announcement, the central bank also cut the interest rate on certain sight deposit account balances to -0.75%, and lowered its target range for the three-month Libor range to -1.25% to -0.25%, from -0.75% to 0.25%. www.marketwatch.com/story/swiss-franc-rises-sharply-after-central-bank-removes-euro-cap-2015-01-15
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Post by jeffolie on Jan 15, 2015 5:34:38 GMT -6
Gold 1,257.30 +23
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Post by unlawflcombatnt on Jan 17, 2015 9:16:06 GMT -6
Note the sharp jump in Gold price on Jan 15th.
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Post by unlawflcombatnt on Jan 17, 2015 9:37:11 GMT -6
Below is a 2-day graph showing the parallel between the rise in the Swiss Franc & Gold. [http://www.marketwatch.com/investing/currency/CHFUSD/charts?symb=CHFUSD&countrycode=US&time=2&startdate=1%2F4%2F1999&enddate=1%2F17%2F2015&freq=7&compidx=none&compind=none&comptemptext=GLD&comp=GLD&uf=0&ma=1&maval=50&lf=1&lf2=4&lf3=0&type=8&size=2&style=1013] link to the above page[/a]
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Post by unlawflcombatnt on Jan 17, 2015 10:22:21 GMT -6
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Post by unlawflcombatnt on Jan 17, 2015 11:00:26 GMT -6
Had to add another one. This shows the 2d comparison between the Franc, Gold, & Silver Here's the live link to the above page link
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