Posts Tagged “Euro”
Weekly Review and Outlook: Euro Found a Bottom, Risk Aversion to Ease Temporarily
By admin | May 22, 2010
There were two important developments to note last week. Firstly, selling climax in Euro was past, with help of intervention. EUR/USD spiked through 2008 low of 1.2329 and reached as low as 1.2143 after German’s announcement of ban on naked short selling. But the common currency then staged a broad based rebound as SNB buying [...]
Yen surges sharply today on risk aversion but the strength is mainly seen against dollar and commodity currencies. European yen crosses recovered strongly as EUR/CHF is shot up sharply by another round of SNB intervention and Euro takes Sterling higher with it. DOW dropped as much as -357 pts at the time of writing on [...]
EUR/CHF soars 300 pts today, up from near to 1.4 level and breaches 1.43, on SNB intervention. Further than that, the common currency also recovers broadly, in particular against commodity currencies, on talk of coordinated intervention of ECB and other major central banks, including Fed to stop unorderly depreciation of Euro. Markets speculate that there [...]