Currency concerns in forex markets

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The Swiss franc was up Monday on the conventional wisdom that it is a safe investment when other currencies are having trouble. It was up 0.8 centimes to SFr1.1922 as opposed to the U.S. dollar and 0.4 against the yen, to 90.13. The yen was shaky mostly due to the fact that any recovery in Japan is dependent on export-reliant companies, requiring a global demand for those companies products at a time when such growth is in question. The U.S. dollar was also down, at least partly due to concerns surrounding global growth. The dollar was down 0.6 cents to $1.2978 in relation to the euro. It was also down 0.6 cents against sterling, to $1.8987, and declined 0.2 to 107.49 in relation to the yen. Some analysts believe that part of the trouble surrounding currencies, and especially the dollar, is involved with Chinas refusal to revalue the renminibi even though the U.S. expects that it will do so, an issue that was addressed this past weekend at a meeting of the G7 nations.