Intraday Market Thoughts

Archived IMT (2009.06.24)

by Ashraf Laidi
Jun 24, 2009 13:39

Swiss National Bank attacks with another franc selling intervention, gunning the EURCHF by as much as 250 pips in 40 mins as the currency appreciated on the back of USD and JPY weakness. USDCHF up +200 pips to 1.09 as the SNB remains resilient on containing excessive strength in its currency, which it deems to add to deflationary pressures. US durable orders soared 1.8% vs exp -0.6% spurring Dow +82 pts at the expense of the USD and JPY. USDJPY face s key resistance at 95.90s. Listen to Ashraf on Bloomberg Radio with Tom Keane in 15 mins.


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