How Do You Spell Relief From Middle East Unrest? S-W-I-S-S F-R-A-N-C
ina throws cold water on hot money, and Middle East tensions fuel a rise in the Swiss franc. Here's your daily FX Fix.
Unrest in the Middle East helped the Swiss franc as investors searched for safety.
After rising initially, the dollar is easing after an increase in the consumer price index that was slightly higher than expected.
More talk about British inflation: the pound strengthened after the Monetary Policy Committee's Andrew Sentance said the Bank of England was too sanguineabout the inflation outlook.
China saw $35.5 billion in hot money coming into the country last year. The government called it "ant-like" and no big deal. It's harder to see how Chinese inflation isn't home grown, though.
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