Dollar hits fresh low vs. Swiss franc, off vs. yen

[villager]

Source: Marketwatch

Dollar hits fresh low vs. Swiss franc, off vs. yen

NEW YORK (MarketWatch) -- The dollar turned down against the Swiss franc Friday, touching a new record low in midday U.S trading. After gaining slightly against the franc in morning activity, the dollar USDCHF -0.10% fell as low as 75.76 centimes according to FactSet Research, its lowest level on record. A Swiss franc equals 100 centimes.

The dollar fell more broadly against major currencies after a strong U.S. payrolls report. The Swiss franc and Japanese yen gained as investors fled stocks in search of safer assets, a trend which has driven both currencies up sharply this week and prompted the unusual step of their central banks intervening in currency markets.

The dollar fell almost 1% to 78.48 yen from ¥79.02 late Thursday -- still well above the near-record lows touched before Japan intervened

Read more: http://www.marketwatch.com/story/dollar-hits-fresh-low-vs-swiss-franc-off-vs-yen-2011-08-05

[On the Road]

1. Travel Advisory:

Do *not* go to Switzerland unless you have a lot of money. The euro is bad enough. The franc is off the charts. A decent hotel room is $3-400, and everything is movie concession prices.

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