Traders say there have been two merger and acquisition deals that have been being executed in the market over the last few sessions.
One is Switzerland’s Sanofi’s takeover of Genezyme of the US. That has a price tag above $20 bln. Apparently the buying for that deal began yesterday and will continue for some time, rumor has it.
USD/CHF is finding buyers around 0.9050…perhaps the two are related. The EUR/USD offer at 1.4150 could be linked as well, if the bank with the order is doing the deal via the components (selling EUR/USD, buying EUR/CHF, producing USD/CHF…)
There is also talk of an M&A deal in AUD resulting in a net AUD 3.5 bln Aussie to be bought..
