UBS, Switzerland's largest bank, agreed Wednesday to pay some $1.5 billion in fines to international regulators following a probe into the rigging of LIBOR, a key global interest rate. That makes UBS the second bank, after Britain's Barclays, to settle over the rate-rigging scandal.
Trading foreign currencies is a smart option for investors looking to diversify -- and one that not many years ago, was restricted to big money investors. Now, it's available to the general public -- with a social networking twist.
The odds that the U.S. will default on its debt increase each day, and even if a short-term deal is reached, the ratings agencies may downgrade U.S. debt anyway. If that happens, turmoil could roil the markets. So where can the smart money flee for safety? 24/7 Wall St. offers 10 safe options.
The Swiss franc has been a top currency over the past six months, outpacing the dollar by 8.9% and the euro by 7.8%, thanks to shaky conditions in Europe. But some signs suggest the Swiss currency is due for a correction.
After a spokesman for Hungary's new government said it might default on its debts, investors battered European stocks and Hungary's currency, the forint. And the euro got pushed below $1.20 for the first time in four years.
