To: Bearcatbob who wrote (156565 ) 9/7/2011 7:11:55 AM From: Salt'n'Peppa Respond to of 206087 Commodities will continue to climb. Buy gold and energy IMVHO. It doesn't matter if you price it in USD (or Yuan - they are lock-step), Euros or Yen. S&P finance.yahoo.com In the currency markets, traders were assessing the aftermath of the Swiss National Bank's surprise decision Tuesday to peg the national currency at 1.20 francs per euro in an attempt to rein in the export-sapping appreciation of the currency. It said it would use whatever resources it has available to maintain that ceiling. The announcement prompted a 9 percent reverse in the value of the Swiss franc Tuesday. That retreat has held Wednesday, with the euro flat at 1.2059 francs. The dollar, which was similarly buoyed, was up a further 0.4 percent at 0.8585 franc. Lee Hardman, an analyst at the Bank of Tokyo-Mitsubishi UFJ, said the decision to announce a peg has initially helped support sentiment in the markets by potentially adding significant liquidity into financial markets. However, he added that the move may eventually be seen as another chapter in a global currency war, where countries seek to get an advantage by manipulating their currencies lower. "Switzerland's shift away from a free floating currency has heightened speculation over which countries could be next to attempt to devalue their own currency as a means to boost growth at others expense," Hardman said. With the dollar near a record low against the yen, there are many in the markets that think the Japanese may soon try to ease the pressure on its exporters by intervening in the markets itself. Japan's monetary authorities have a history of intervening in the markets, most recently in conjunction with other central banks around the world following March's devastating earthquake and tsunami.