The Swiss franc may decline to a level against the dollar last seen in May if it ends the day weaker than a key technical level, according to Citigroup (NYSE:C). A daily close weaker than the 55-day moving average of 80.99 centimes per dollar would indicate the franc will slump to the 200-day moving average, wrote Tom Fitzpatrick, chief technical analyst at Citigroup Inc. in New York, in a research note to clients today. The franc last broke 89.29 centimes, now the 200-day moving average, in mid-May. -Bloomberg
What makes investors forget about losing an iconic leader? How about traction in a market with four times more people than the United States that’s now the largest computing market in the world? New research says that’s exactly what’s happening to Apple (NASDAQ:AAPL). On Friday, Ticonderoga Securities analyst Brian White said in a research note that MacBook Air sales in Hong Kong have been brisk and, that based on his checks, the svelte laptop should perform equally well on the mainland, Fortune reports. Buyers are also taking to the iPad and iPhone, White said. -Daily Finance
General Dynamics (NYSE:GD) was awarded a $3.7 billion contract from the U.S Army to provide computer hardware, the Pentagon said late Monday. The five-year agreement is a fixed-price, cost-plus-fixed-fee contract for work performed in Taunton, Mass. Work includes acquiring rugged local area networks, routers and laptops for use in vehicles and by walking patrols. Known as the Command Hardware Systems-4 contract, the deal follows similar work completed by General Dynamics from 1995 to 2011, according to the Defense Industry Daily. -MarketWatch
The euro came under significant pressure in European trading Tuesday, pulling down other risk-sensitive currencies, such as the pound and Australian dollar. A steady flow of negative newsflow out of the euro zone, including relatively weak demand at a key Italian bond auction and further evidence German Chancellor Angela Merkel is struggling for parliamentary support, weighed on the single currency, pushing it down about 0.6% against the dollar. The euro traded recently at $1.4401, compared with $1.4511 late Monday in New York. The dollar was at ¥76.80 against the yen. -The Wall Street Journal
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