Looks to me like they absolutely intervene. Maybe the smaller moves are on speculation, but... that move back on Feb 5 is an example of the pressure the SNB can apply. There are other instances (if you look back) of massive pip moves in this pair, which usually trades in a very small range day to day.
In the Fed minutes last week it was revealed that members were in disagreement and that some were increasingly hawkish. They spoke of how they were looking to decrease the balance sheet, and the very next day raised the rate for the discount window. All of this is sending a very clear signal that the Fed is changing from a dovish stance and will be tightening with measured moves going forward. This is very USD positive.
Loaded up on gold & silver shorts starting Sunday until my last gold entry at 1104. Woke up this morning and found out I had been printing money all night. Oh yeah, I did catch some of that cadjpy as well.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(11 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(12 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (12 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (12 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (12 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(12 months ago)
Gold and USDJPY
Weaker than expected CPI is expected to help gold and drag on USDJPY until this evening's Fed decision/press conference..
View Hot-Chart..
Loaded up on gold & silver shorts starting Sunday until my last gold entry at 1104. Woke up this morning and found out I had been printing money all night. Oh yeah, I did catch some of that cadjpy as well.