|
FX implodes?
One important development two important articles.The Swiss National Bank came into the FX market again today after the E/CHF broke another critical milestone of 1.38 Tyler Durden did a piece and discussed how quickly the benefits of the intervention evaporated. He pointed to the fact that in less than two hours the E/CHF was below the intervention levels. JPM wrote a report that summed up the critical issues. Their report was very bearish for the E/CHF. Their argument is that the Swiss have now spent 1/3 of GDP in currency intervention and they have accomplished nothing. The conclusion is that the Swiss will be forced to stop and let the Euro to float to a much lower level. Posted by: tipper 2010-06-08 |
| http://www.rantburg.com/poparticle.php?ID=298508 |