dollar

GAM has unveiled the GAM Star Credit Opportunities fund, a UCITS III corporate credit fund that will drive returns through investing in undervalued, US dollar-denominated corporate credit.

The Swiss franc has fallen 9% against the euro after the Swiss National Bank (SNB) said it was setting a minimum exchange rate against the single currency.

President Barack Obama has announced a deal to end the US debt crisis, which will raise the nation's debt ceiling by at least $2.1trn and cut the federal deficit by as much as $2.5trn over a decade.

Futures manager Dighton Capital Management has made a bullish call on the dollar even as the debt ceiling crisis continues to worsen.

The dollar has hit a record low against the Swiss franc as investors are kept waiting for signs of progress in US lawmakers' attempt to raise the debt ceiling.

Announcing a haircut on Greek bond holdings would help restore a positive mood to bond markets, which have largely priced in such a move, said DWS Investments' CIO Asoka Wöhrmann.

JP Morgan has launched a sterling hedged share class for its Diversified Commodities fund run by it alternatives arm, Highbridge Capital Management.

Veteran investor Jim Rogers has warned the US is nearing a financial crisis which will be worse than 2008, unless the government initiates draconian cuts.

The bull run in commodities is set to continue, despite the recent sell-offs and mounting fears some assets in the sector are overheating, according to asset allocators.

Silver futures have recovered from the worst weekly drop since 1975, gaining 4.4% Monday to reach $37 an ounce.