Thursday, May 20, 2010

Battle of Euro: Pols vs Evil Speculators Update

Zero Hedge speculates that:

"The negative here is that Germany will look at the Eur response and pitch its naked short ban to all other European countries, which will now gladly accept the proposal, myopically hoping for another 1-2 bp move in the EURUSD. We believe there may well be an announcement of a Europe-wide naked short covering ban this weekend, coupled with the imposition of a transaction tax." [Emphasis is mine.]

Stock market participants around the world, LOOK OUT BELOW...

The Zero Hedge article also thinks today's massive intervention was by the ECB, not the Swiss National Bank.


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