SNB Moves In, Franc Moves Back

The Swiss franc retreated today from the yesterday’s records against the dollar and the euro as the Swiss National Bank expanded measures aimed to tame the excessive appreciation of the currency.

The SNB repeated that a strong currency is a ”threat” to the nation’s economy. As a result, the bank decided to increase pressure on the franc:

In the light of these developments, the Swiss National Bank (SNB) is taking additional measures against the strength of the Swiss franc. It will again significantly increase the supply of liquidity to the Swiss franc money market.

To increase liquidity, the SNB “will additionally conduct foreign exchange swap transactions”.

USD/CHF climbed from 0.7205 to 0.7257 as of 10:11 GMT and reached the intraday high of 0.7331. EUR/CHF advanced from 1.0365 to 1.0426 after it dropped yesterday to the record low of 1.0089.

Canadian Dollar Receives Hit from US

Canada’s dollar plunged today as demand for the nation’s assets deteriorated because of pessimistic outlook for the economy of the biggest nation’s trading partner — the US.

The depressed mood caused fall of equities and decline of commodities. The MSCI World Index of stocks slumped 1.9 percent, while the Standard & Poor’s 500 Index fell as much as 2.1 percent.

There are positive sing, though, that may precede a change of the trend. The S&P/TSX Composite Index rose 0.4 percent. Crude oil, the main export of Canada, rallied 3.2 percent to $81.82 per barrel. Yield on the two-year government bonds fell five basis points to 0.81 percent.

USD/CAD jumped from 0.9771 to 0.9921 as of 19:19 GMT today. EUR/CAD advanced from 1.4044 to 1.4088 after reaching the intraday high of 1.4174. CAD/JPY fell from 78.70 to 77.38 and declined during the day to 76.82, the lowest level since March 2009.

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The Ed Morrissey Show: Guy Benson, Scott Hennen

Today on The Ed Morrissey Show (3 pm ET), Guy Benson starts us off with a look at the hot issues of the day, including the Mitch McConnell proposal on the debt ceiling and the food fight on the Right over it. In the second half, conservative talk show host Scott Hennen joins us during his own broadcast! Yes, TEMS will be simulcast for the final 30 minutes on KNOX 1310 in Grand Forks, ND, while Scott and I talk about his new book, Grass Roots: A Commonsense Action Agenda for America.

The Ed Morrissey Show and its dynamic chatroom can be seen on the permanent TEMS page — be sure to join us, and don’t forget to keep up with the debate on my Facebook page, too!

We’ll also cover the the case of Marizela Perez, who has been missing in the Seattle area for more three months. Marizela’s case has a connection here at Hot Air, as she is the cousin of the Boss Emeritus, Michelle Malkin. Michelle is trying to spread the word through Facebook and Q13Fox/KCPQ in Seattle. We want to encourage prayers for Marizela’s family, and also try to reach anyone in the area who knows where Marizela might be and ask them to contact the police.

The search has its own website now, Find Marizela, for the latest in the efforts to bring Marizela home. There is also a fund for the family to keep the search efforts going. Be sure to check there and at Michelle’s site for further developments, and keep the family in your prayers.

America’s Most Wanted is now on the case, too.

Michelle had an update last week:

Four months ago today, my cousin Marizela Perez disappeared from the University District in Seattle, Washington. I am devastated to tell you once again that there are no new leads or breaks in the case. Her parents have exhausted their work leave and have had to return to the East Coast. The family is weighing various legal and investigative avenues to pursue. As I reported in May, the quest to obtain Marizela’s online/text info has been an uphill battle. After months of pressing, we finally received a search warrant two weeks ago related to the case. It had been signed by a judge on April 22; we gained access to it in late June. …

Marizela’s Google web history was not included. The Seattle Police Department will not disclose the actual Google records to her parents so that they could pursue the search for Marizela on their own.