Euro Continues Fall Versus Franc [EUR/CHF]

Euro Continues Fall Versus Franc [EUR/CHF]
The euro continued to drop against the Swiss franc and reached a seven-week low. The Euro began currency began to trend lower at around 8:30 a.m. ET and sharpened the decline around an hour later. The euro reached as low as 1.6456 before a slight recovery.

European Markets Rise, Led By Banks - European Commentary []
The European markets rose on Wednesday, as banking stocks rallied after Deutsche Bank reported higher third quarter earnings and reiterated its 2008 pre-tax earnings forecast.

FTN Financial Remarks On The New Fed Conundrum Bernanke Outlined Yesterday []
Chris Low from FTN Financial commented on Friday that junk bond spreads have pushed through their summer wides and asset-backed commercial paper outstanding fell by $29.5bn as the mood in the credit markets turned decidedly gloomier this week. He stated that he thinks it has a lot to do with the new Fed conundrum Bernanke outlined yesterday: the Fed feels it is exacerbating the inflationary threat from dollar weakness and rising commodity prices if it cuts rates, while risking significant economic weakness (i.e., recession) if it doesn't.

Asian Browses Open Weak Tracing Wall Street Slum- Asian Commentary []


Swiss Currency Advances Versus Yen [CHF/JPY]
The Swiss currency advanced against its Japanese counterpart in trading on Friday. As action moved into the mid-morning, the franc reached a mark of 98.98. The pair moved as Japanese industrial output dropped 1.4% in September from the prior month. On an annual basis, industrial production advanced 0.8%.