EU Morning Report Swiss franc sharply drops after SNB’s measures The euro rallied against the Swiss franc yesterday after the Swiss National Bank (SNB) surprised investors by intervening in the currency markets. The SNB announced that it will not allow the exchange rate of the euro against the Swiss franc to fall below 1.2000 and [...]

U.S. Dollar Trading (US) an historic day in currency markets with the Swiss National Bank intervening by placing a lower limit on the EUR/CHF at 1.2000. The immediate effect was a move from 1.12 to 1.21 on the EUR/CHF and this helped the USD/CHF from 0.7900 to 0.8500. Stocks markets globally welcomed the move and [...]

EUR/USD The Euro was unable to regain any significant ground on Monday and was subjected to renewed selling pressure as underlying confidence deteriorated. The focus was inevitably on Europe given that there was a US market holiday. A loss of support near 1.41 pushed the currency to lows below 1.4050. There were further important stresses [...]

EU Morning Report Reserve Bank of Australia keeps interest rates on hold The US dollar edged higher against a basket of currencies as fears about the US economy and eurozone debt crisis continue to support the safe haven currency. World equities dropped and gold hit a fresh record high on worries that the US economy [...]

U.S. Dollar Trading (US) risk aversion and fear is spread through the market on Monday with Italian bond spreads increasing 57bps vs. Germany. European banking stocks slumped on EU debt the banks hold and US banks listed in Germany also fell sharply on weekend news the US would sue the banks over mortgages. The US [...]