02 Mar '11, 11pm

Euro, Swiss franc rise; gold hits new peak

WASHINGTON: The Swiss franc hit a record high against the US dollar and the euro hit a 15-week peak on the greenback, while gold struck all-time highs on Wednesday as Middle East instability hung over forex markets. With oil prices shooting up, signs were clear that the dollar was not benefiting much from its traditional role as a safe-haven currency. At 2200 GMT the euro was at $1.3867, its best level since November 8, and up from $1.3774 a day earlier. The Swiss franc jumped to a record vis a vis the greenback, the dollar buying to 0.9234 francs from 0.9287 francs late Tuesday. Meanwhile gold jumped more than $5 an ounce to reach an all-time record of $1,440.32 in London over new worries of spreading turmoil across the Arab world. The instability of Libya, embroiled in what was looking more and more like a civil war, echoed in civil protests against other authoritarian A...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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Sing$ hits new high against US dollar

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