That’s the word on the street
Barring , in my opinion anyway, being helped by our friends at SNB, Swiss real money accounts are told to be behind the latest steady CHF sales. Putting their money to work after having held their mainly CHF denominated portfolio’s locked for so long,it appears Mr Jordan and Co, with their ultra expansionary policy, have finally forced them out of their cosy Alps.It certainly would explain the steady and lengthy nature of the CHF decline over the past weeks. The move has been helped by a more risk positive environment for sure, but the nature of it already drew my attention as to why it was so steady and ongoing. CHF even underperformed JPY , the risk currency numéro uno …
Now I have been long USDCHF and EURCHF for a while as readers will know, but my long experience in the markets teaches me to raise the state of alert when such information finally hits the street.
It’s the story of the taxi driver telling you to buy stocks, or the ladies in the dentist waiting room talking about how rich we get buying usd ….
I sold out my EURCHF and already half the USDCHF .