All the euro major crosses are significantly higher on the day as the ECB’s unexpected inflation focus along with lessening sovereign debt fears sparked a major shift in euro positioning, flipping most from short to flat and some from short to long…
EUR/CHF is way up again today, showing that SNB president Jordan was spot-on yesterday when he said the future of the CHF all came down to the European debt crisis…
That cross traded as high as 1.2888 today after bottoming at 1.2435 early in the week. The weakness of the CHF well before the turn in EUR/USD turned out, in hindsight, to have been prophetic…
