Beat Siegenthaler News
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The yen gained the most since June versus the dollar as the Bank of Japan failed to offer additional stimulus efforts, fueling bets it will fall short in its effort to stoke economic growth by weakening the currency.
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UBS AG advised selling the euro against the Swiss franc with a price estimate of 1.38 francs per euro.
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Investors should sell the euro against the Swiss franc at 1.355 in the expectation it will decline to 1.29, according to UBS AG.
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European Central Bank President Mario Draghi may act more like Ben S. Bernanke than Jean-Claude Trichet in 2012.
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Swiss central bank President Philipp Hildebrand , who ended 15 months of intervening in foreign- exchange markets this year, may prove powerless to stop the franc from extending a record rally that he calls a “burden.”
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The franc strengthened, appreciating most against the dollar and the yen, as investors took advantage of recent weakness in the Swiss currency.
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The following are the day's top business stories:
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The pound posted its biggest weekly decline in nine months against the dollar as investors added to bets the Bank of England will keep interest rates near record lows to support growth.
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Brazilian Finance Minister Guido Mantega said the Group of 20 nations may discuss reducing the dollar’s role as a reserve currency in favor of a basket that could include the real and yuan.
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The Swiss central bank is resisting calls from executives and politicians to further weaken the franc amid investor demand for a haven from the region’s sovereign debt crisis.
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