Posted: Feb 22, 2010 5:00
Markets were active but failed to grab a clear theme to start the week as New York is hit with a massive snowstorm. The pound was the top performer while the Swiss franc lagged badly. Australian business confidence highlights a quiet Asia-Pacific session. 17 days after the last of our Premium AUDJPY shorts hit its final target, has the pair got any more downside left? We answer with 2 new trades and 3 charts in the pair.
A rally in EUR/CHF to 1.0170 from 0.9800 in Europe was the highlight of the day. The move started after the SNB reported the largest one-week rise in sight deposits since March 2013. Ostensibly, deposits would count as inflows into Switzerland by there was talk about financial engineering to reverse it via swaps or debt repurchases.