Talk In The Street 6-9-10

The Talk In The Street is there is one group out there that has to be quite angry about what is taking place in the forex markets this morning and that’s the Swiss National Bank. The SNB is probably quite happy about the recent legal decisions that insure Swiss banking secrecy for a while longer, (which will make the CHF strong) for banking is of course at the very centre of Swiss life and Swiss “national-ness,” but the strength in the Swiss franc relative to the EUR has to have the authorities there manifestly unhappy.

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