The Swiss franc climbed against all its 16 most traded counterparts, reaching a record low against the Euro,the Dollar and the Pound on today's trading as fears that Europe's debt crises will worsen amid slowing global growth.
The dollar advanced against most major currencies as Congressional leaders voiced confidence the Senate will ratify a U.S. debt-limit compromise, shifting investor focus back to the euro region . The yen erased losses on speculation Japan will take steps to weaken it. The Australian dollar dropped after the nation’s central bank kept its main interest rate unchanged.
A lot of volatility still ahead so beware of the tight trading conditions. Do not take long term trades for now but be vigilant on the news releases as they pound the market.
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