Comments from the Hungarian Prime Ministers spokesman (over
Bloomberg) that default talk is not an exaggeration has sent
EUR/CHF down 150 pips. EUR/USD has just broken below 1.21 (1.2090
the low) thus extinguisng the 1.21 barrier.
The collapse in EUR/CHF through 1.40 was decisive and perhaps
an accident waiting to happen. Is Hungary playing politics? Rumour
of a bank in trouble is just that - a rumour. All up though I would
not trust these moves in the current trading environment. London
dealers say the market is extremely thin and illiquid prior to the
NFP.
I have to say, that i find the news this AM a little suspicious
@ best. very odd news to come out an hour before payrolls....these
guys are really unscrupulous..
eur/chf
Posted by elfi on 4th of Jun 2010 at 07:47 am
Comments from the Hungarian Prime Ministers spokesman (over Bloomberg) that default talk is not an exaggeration has sent EUR/CHF down 150 pips. EUR/USD has just broken below 1.21 (1.2090 the low) thus extinguisng the 1.21 barrier.
The collapse in EUR/CHF through 1.40 was decisive and perhaps an accident waiting to happen. Is Hungary playing politics? Rumour of a bank in trouble is just that - a rumour. All up though I would not trust these moves in the current trading environment. London dealers say the market is extremely thin and illiquid prior to the NFP.
Default and Lying are not a good combination
Posted by klatuu on 4th of Jun 2010 at 09:00 am
Apparently the prior govt was lying about the reports it was publishing to the world as well.
Klatuu
Glad i am short since
Posted by vimal on 4th of Jun 2010 at 08:22 am
Glad i am short since 1.4450. Will probably close out soon or certainly place trailing stops
btw: Hungary is member of
Posted by elfi on 4th of Jun 2010 at 07:59 am
btw: Hungary is member of the European Community but still has Forint (currency) - not Euro (yet).
I have to say, that
Posted by dylan398 on 4th of Jun 2010 at 08:14 am
I have to say, that i find the news this AM a little suspicious @ best. very odd news to come out an hour before payrolls....these guys are really unscrupulous..
indeed
Posted by elfi on 4th of Jun 2010 at 10:20 am
indeed