First up:
The liquidity monster and FXCM
As we have already pointed out about Thursday’s unprecedented Swiss franc move following the SNB’s announcement about removing its 1.20 euro level floor and introducing a -0.75 per cent interest rate regime, the real story to pay attention to is what exactly motivated a price surge to that level.And the post that made me realize I need a long weekend:
Was it a), that the SNB simply under appreciated the scale of the undervaluation it had been engineering in the franc? Or was it b) that the SNB under appreciated just how thin FX market liquidity is in the market these days?
So as to not sit on the fence, we’re going to take a view and speculate that it’s actually all down to option two....MUCH MORE
(some of the comments are pretty funny)
It’s raining euros in Geneva
Sources on the ground tell us that queues have been forming outside money changers in Geneva since at least last night.
Here’s the latest scene of Swiss folk eager to cash in their money’s worth by way of Twitter user @Halders1:
...MORE
Meanwhile, all I could think of were some of the horrific projected effects of a changing climate: