Tuesday 6 September 2011

The SNB has some teeth after all

and caught plenty of people on the hop today when they announced that they would no longer tolerate a EURCHF rate below 1.20. After the initial up-move, the rate stayed in a pretty narrow range for most of the day and it will be very interesting to see how this develops over the next few months. I'm sure that they have found another way to spend some money and if the woes of the rest of Europe keep magnifying, we are going to be long of a whole bunch of €. Dunno how I feel about that.....


Tune of the Day:  I'll Rise    by Ben Harper

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