Mid-Day Report: Dollar Rallies ahead of Bernanke’s Speech in Jackson Hole Tomorrow
The Swiss franc dropped against both dollar and euro on loose talk of possible action by Swiss National Bank, USD/CHF and EUR/CHF hit intra-day high of 0.7983 and 1.1519 respectively. Investors are getting nervous and don’t want to be caught short if SNB does intervene the currency market, short-covering was the main theme and lifted both currency pairs. However, there was still no sign of any formal intervention by Swiss authorities so far. Rumors came from a New
No comments:
Post a Comment