(Image Source: Picasa)

BY CHARLIE MCKEAGUE

ANCHOR CHRISTINA HARTMAN

You're watching multisource business news analysis from Newsy.

The Swiss have had enough.  Swiss National Bank announced it’s pegging the country’s exchange rate at 1.2 francs per euro. Here’s CNBC with more.

“The central bank citing what it calls the current mass overvaluation of the Swiss franc which it says poses an accuse threat to the Swiss economy that depends on exports and tourism. You can see the sharp, sharp rise. This is considered one of the big safe haven currencies. People have been pouring into it and the Swiss don't like it.” (CNBC)

And most say it had to be done.  A writer for London’s Evening Standard explains what an overvalued franc has been doing to the Swiss economy.

“The currency’s appreciation has had a crippling impact, sapping the profits of multinationals like Nestlé and banking giants UBS, sending export costs spiraling and depleting the value of the Swiss National Bank’s foreign exchange reserves.”

All this happened Monday – and by Tuesday the Euro had surged almost 10 percent against the franc – and Swiss stocks are on the rise too.  A market analyst for CNN says it could affect the dollar too.

“Switzerland shares up more than 4% because the Swiss national bank has intervened in the currency markets and the euro driven up by 9% against the Swiss franc. It's interesting this happened. They've set a currency peg to the euro. What this might mean to viewers we could see some recovery in the U.S. dollar because of this. So it will be interesting to watch.” (CNN)

Before the move - the Swiss National Bank was trying hard to keep the price of the franc down. A Morgan Stanley analyst tells Bloomberg – it’s now pulling out all the stops.

“This is a very significant move by the SNB.  In combination with other measures they have taken – it looks like they are going to put all their tools back to work here to try to put the franc back under pressure. ... In the near term we are going to see the SNB be successful in holding the euro/swiss above the 1.20 floor they’ve indicated.”

But the big winner? Might not be the franc or euro -- but gold yet again… Global growth is slowing – and fears are still growing.  HLN goes big picture.

“The big picture is weakness in economies around the world, including ours – the number one economy in the world.  All that fear is pushing gold to another record, more than 1,900 an ounce.” (HLN)