Swiss Instigate Currency War

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The Swiss Franc continues to dominate currency news this morning after a historic announcement by the Swiss National Bank yesterday. Although this had an in immediate effect on the market, the SNB will come under increasing pressure from investors worldwide who see this decision as a smoke and mirrors ploy. The only immediate beneficiary of this decision was gold that continued its climb to well above the $1,900 per ounce level. With the sort of power the Swiss have at present there will undoubtedly be huge levels of volatility in the coming weeks as the markets re-adjust themselves.

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