By way of Bloomberg
Nice level on the Bloomberg’s Market’s reside weblog.
The ECB’s verbal interventions in opposition to euro power is a ache for the SNB. The SNB need the euro larger in opposition to the CHF to assist their export financial system. The ECB need the euro decrease to assist theirs.
This does set the ECB in opposition to the SNB this week, so effectively value keeping track of this narrative going ahead. The SNB meet subsequent week and they’re going to keep on repeating the CHF is ‘extremely valued’ , that they’re persevering with to intervene and the -0.75% rate of interest will probably be repeated.
Be careful for this battle to be performed out on the EURCHF pair
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