Staying with currencies, Switzerland's central bank shocked forex markets yesterday by essentially pegging the Swiss franc to the euro. And on this side of the world, some Asian countries are considering intervening in their own currency markets.

Japan's new Finance Minister Jun Azumi is sticking to Tokyo's mantra that it will keep a close watch on speculative currency moves - though the yen is trading lower after Switzerland's move.

Next door, the South Korean government will impose taxes on interest earned by foreign investors from so-called kimchi bonds - that's foreign currency bonds issued domestically. That's in its bid to curb rising dollar denominated debt and to stem capital inflows.

In south Asia, India's central bank says it will consider intervention in the forex market if pressure on the exchange rate becomes too great and disrupts economic activity.

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