Money in Motion

Swiss Intervene, Franc Plummets

The Swiss National Bank strikes back and European officials talk togetherness - it's time for your FX Fix.

Take that, Swissie! The Swiss National Bank set a minimum exchange rate target for the franc. [CNBC]

The euro hit new multi-week lows on new worries about the debt crisis there, but then rose on the Swiss bank's move. [WSJ]

European officials are talking about a closer fiscal union with a central financial authority. United States of Europe, anyone? [NYT]

Japan's new finance minister wants a little help from his G-7 friends to deal with the yen's strength. [WSJ]

The Australian dollar is weaker, dragged down by Europe's woes, gloomy comments from the central bank, and a decision to keep the cash rate unchanged. []



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