On Thursday, the Swiss National Bank held it policy meeting, which gained a lot of attention. Following a string of subpar fundamental news in recent weeks, suggesting weakening domestic economy, markets anticipated the SNB to raise the floor of the EUR-CHF from the present 1.20 to 1.25 or perhaps even higher, like 1.30. In fact, [...]

Currencies were relatively quiet in the past few days leading to the ECB policy meeting and the interest rate decision. Today, after the announcement, they exploded. The European Central Bank reduced the interest rate by 25 basis points to 1%, following a similar move a month ago. While most analysts expected the rate to be [...]

By now, it should be clear to everybody that a “comprehensive and sustainable solution” to the EU sovereign credit crisis, as promised by leaders over past few months is a fantasy. So far, member states have not been able to agree on anything, but they will try again this week. First, Sarkozy and Merkel meet [...]