On Tuesday 6th September, Swiss National Bank (SNB) signals that it would peg EUR/CHF exchange rate to a minimum rate of CHF 1.20. The franc, which has surged by about 20 percent as investors seek refuge from the eurozone crisis, dropped nearly 10.0 percent after the central bank issued its intent. The franc is soaring largely because it is considered…
Tag: European debt
European crisis and China economy slowdown have increased risk aversion | STI, Cosco, Yangzijiang stock prices | US, Singapore Stock Markets
Once again, it was a ‘red’ Monday with all stock markets not spared from the brutal selldowns. Though traditionally, May period is known to most experienced investors as a month of ‘short’ or ‘sell’, this time round, the new anxiety and fear is a result of some key economic developments in UK and China. On Friday (20th May 2011), Fitch…