SNB did not push EUR/CHF to 1.25 and the markets celebrated by making CHF stronger. But since euro is still under lots of pressure, it may become weaker in the weeks ahead. I think SNB will continue to watch their currency closely and act if they need to.
via WORLD FOREX: Swiss Franc Jumps After SNB Holds Fire On EUR/CHF Target – WSJ.com.
As Euro continues to be the eye sore nowadays, what is SNB going to do? Their shocking move by intervening the markets which sent USD/CHF from 0.78 to 0.86 and EUR/CHF from 1.09 to 1.20 on September 6th, 2011 is still fresh in memories.
Now, rumor has it that SNB’s new floor for EUR/CHF will be 1.25. How are they going to do it while Euro continues to fall?
Maybe, and just maybe, on 12/24, when everyone’s away from the markets and enjoying the holidays with families, they unexpectedly intervene and push EUR/CHF easily through 1.25 or even higher.
Oh wait. 12/24 is a Saturday. 12/23 then.
via WORLD FOREX:Euro Falls Below $1.30; Focus On SNB – WSJ.com.
Looks like Euro is going to say bye-bye to 1.3000 very soon. Maybe it’s even too early to try to figure out where the bottom will be. By looking at the 2-year chart, maybe there will be some support at around 1.26 – 1.27, and then 1.22 – 1.23. Will we see these prices in 2012 soon?
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Didn’t we see the headline yesterday that said there was hope in Europe so the stocks went up? As expected, it is hopeless today. Tomorrow, let’s toss a coin – head, hope; tail, death.
Asian stocks fell Thursday as hopes faded that a bold solution might be found to a crippling debt crisis that is threatening to drag Europe into a deep recession.
Benchmark oil rose above $100 per barrel while the dollar fell against the euro and the yen.
via Asian stocks fall on Europe crisis pessimism – Yahoo! Finance.
Oh ya, let’s watch the breaking news again. It might give you an idea on how to trade euro dollar.
