They’ve kept their powder dry and kept markets guessing with EURCHF drifting so close to the cap at 1.2000 but Jordan & Co have now delivered what they’ve been threatening for a while
A pre-emptive strike against ECB easing in Jan would be my first thought, and it keeps the market still guessing as to how effective a bout of intervention might be if called upon
USDCHF has posted 0.9837 ( not seen since May 2013 ) but retreating now to 0.9817 on profit taking and EURCHF has stalled at 1.2094 and currently 1.2070. Let’s see what happens on the second wave.If we don’t get another spike then we’ve probably seen the top for the moment
CHFJPY lows of 120.85 . EURUSD being forced lower to 1.2278 and GBPUSD to 1.5550
A nice early Xmas pressie for all CHF shorts!
