Browsing Tag


SNB Pledges New Managed Float to the Euro

Morning dominated by SNB’s decision to target EUR/CHF at 1.20; European stocks marginally higher. German August orders slumped -2.8%, first drop since March; US service-sector ISM key report today. In the EM space, China's economic growth…

Pegs, Pomp, and Direct Democracy

In characteristic form, the currency traders and those who trade in what is dubbed "financial news" woke up last week and discovered, à la Rip Van Winkle, that the Swiss franc was a haven currency charging higher. Never you mind that it has…

Three Thoughts for Friday

The past two weeks have seen large disruptions in the global capital markets and various policy responses. Market participants are having a difficult time getting a handle on these developments. There are three things investors should…

SNB takes action against strong CHF

US growth concerns and downgrade risk remain in play after budget deal. Euro zone periphery remains under pressure as ECB meets Thursday. SNB takes action against strong CHF; spike in EUR/CHF offers good entry point to go long CHF.

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