Business Topics

What happened to the Swiss franc?

| Jan 17, 2015

What happened to the Swiss franc?

One of the world’s safest investments — the Swiss franc — has swung wildly this week after the central bank in Switzerland announced it would scrap its policy of limiting the rise of the currency. It may seem like an arcane move, but it’s ...

| Jan 16, 2015

Dollar tumbles in Tokyo on 'Swiss shock'

The dollar tumbled below ¥116 during Tokyo trading hours Friday amid global market turmoil following Switzerland’s unexpected decision to abandon the 3-year-old cap on the value of the Swiss franc against the euro. The greenback slid to one-month lows around ¥115.90 before recouping some ...

| Jan 16, 2015

Nikkei dives on sharp surge by yen

Stocks nose-dived Friday, taking a heavy blow from the yen’s sharp appreciation against other major currencies. The Nikkei 225 average closed 244.54 points, or 1.43 percent, lower at 16,864.16. On Thursday, the key market gauge rose 312.74 points. The Topix lost 12.87 points, or ...

Switzerland stuns markets by giving up on currency peg

Jan 16, 2015

Switzerland stuns markets by giving up on currency peg

Rarely has one statement prompted such a dramatic move in currency markets. The Swiss franc achieved a turbo-charged liftoff Thursday after the country’s central bank bowed to the inevitable and ditched an increasingly expensive policy to limit the export-sapping rise of the currency. Within ...

Jan 15, 2015

Regional economies showing moderate recovery, BOJ says

The Bank of Japan said Thursday that a moderate recovery remains underway in all regional economies, upholding previous upbeat assessments because of the expectation that cheaper oil will spur consumption. In its quarterly report, the central bank kept steady its evaluations of eight of ...

| Jan 15, 2015

Nikkei rebounds past 17,000 line

Stocks staged a sharp rally Thursday, aided by a pause in the yen’s appreciation against the dollar and other currencies. The Nikkei 225 average rose 312.74 points, or 1.86 percent, to finish at 17,108.70. On Wednesday, the key market gauge gave up 291.75 points. ...

| Jan 14, 2015

Dollar briefly drops below ¥117 in Tokyo

The dollar briefly slipped below ¥117 in Tokyo trading Wednesday as continued falls in stock and crude oil prices heightened risk-averse sentiment among investors. The greenback sank to levels near ¥116.75 before standing at ¥117.07-08 at 5 p.m., down from ¥118.24-24 at the same ...

| Jan 14, 2015

Nikkei follows U.S. stocks lower

Stocks tumbled Wednesday on broad-based selling induced by U.S. equities’ continued slide overnight and the yen’s appreciation, sending the Nikkei 225 average below 17,000. The benchmark index shed 291.75 points, or 1.71 percent, to end at 16,795.96, its lowest closing in nearly a month. ...