The RBAs Stevens was surprisingly candid in today’s speech, just one day after the RBA decision. – Notes how the rise of emerging markets is “is overwhelmingly positive for us in net terms” despite struggles in developed world. – Says … Continue reading
The Minneapolis Fed leader continues to speak, saying: – He’s watching prices closely, more accommodation may be need if deflation re-emerges – He called low H1 growth “a big surprise” – Does not expect a recession – Recoveries from financial … Continue reading
I noticed this article at the weekend. Guess we know what the SNB will be doing with some of those euros they’ll be buying around 1.2000. Do a google search using the headline if you want to read complete article.
- The SNB is looking for a “substantial and sustained” weakening of CHF – It will no longer tolerate a EUR/CHF rate below 1.20 – Will enforce with “utmost determination” – Will buy in unlimited amounts
We’re now at 1.4127. EUR/CHF still above 1.2000, presently at 1.2040, with USD/CHF taking up the slack. USD/CHF presently up at .8520. UPDATE: Middle East also been selling EUR/USD in recent trade. And hedge fund selling too.
Swiss National Bank sets minimum exchange rate target at CHF 1.20 per euro Swiss National Bank statement ECB: Has been informed of SNB decision on EUR/CHF rate. SNB took decision “under its own responsibility” ECB buying Italian, Spanish govt bonds………again … Continue reading
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