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Old 09-06-2011, 19:21   #8
gotplastic
Senior Member
 
Join Date: Feb 2008
Posts: 306
Quote:
Originally Posted by DoctaGlockta View Post
The Swiss Franc was devalued by their central bank overnight.

When the 'safest haven' currency can do this then it can happen to any of them.

This is big news or as VP O'biden said 'A big f#$%ing deal'.

Not sure what one can expect next from the markets except disorder and chaos.

Keep sharp gentlemen.
Not big news actually, it's been expected and widely written on. They did it because they are the 'safe haven' currency and want to limit the rise in their currency. By tying it to the euro and intentionally devalueing it on purpose it restores the strength of currency for visiting tourists, exports, etc... The dollar is still in trouble, but this is not a big deal.
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