Wall Streeters can take comfort in the fact that they voted for the other dude since Obama’s reelection because since his reelection it has been one-way traffic in the southbound lane.
Gone are the days when signs of life in China could put a bid under risk-assets. We’re focused now on the looming fiscal cliff in the US as well as the thorny issue of Greek debt (un)sustainability.
EUR/USD has managed to trigger the 1.2700 barriers and now eyes support near 1.2640/50. Sellers are seen on pops to 1.2725/30.
How risk averse is the market at the moment? EUR/CHF is back with 30 pips of where the SNB generally draws its line in the Alps.
