Uggh…It just goes on and on…No sooner does the Fed sweep up AIG than attention turns to UBS. Rumors that the SNB would lend a lifeline to the Bank have been denied. We’ll leave it to you to decide if that is a positive (they don’t need a lifeline) or a negative (they need one but we won’t give it…).
The dollar is at its lows versus EUR and CHF, near 1.10 against the latter and 1.4375 versus the former.