Forex News and Rumors – Afternoon Update

Swiss Franc Declines as SNB Sells Currency

The Swiss franc continued to lose against the euro after the Swiss National Bank announced it would sell the currency in an attempt to devalue the franc which has gained 7.6 in value over the past six months. More

Canadian Dollar Gains on Quest for Higher Yields

Despite losing more than 80,000 jobs in February, the appeal of the Canadian dollar was evident today as a strong week for global stock markets increased investor confidence. More

China “Worried” Over US Assets

China’s Premier Wen Jiabao chastised the US earlier today reminding the Obama administration to “keep its promise and guarantee the safety of Chinese assets” estimated at $1 trillion in US Treasuries. More

Wall Street Remains Neutral Today

After four straight days of gains, Wall Street remained flat on Friday due mostly to profit-taking in the financial sector. More

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