Another Unnatural Spike in Euro, Just Another Ordinary Day in the Market

Certain patterns don't happen in nature, and this gotta be one of them. But in the world of global central banks still 'drunk' on Keynesianism, it has become a norm.

Zero Hedge has this chart of euro. That has certainly cheered the stock market, which reversed from the morning low and now is up 66 points on the Dow Jones Industrial Average.

Another Blatant EUR Intervention Leads To 150 pip EURUSD Move In Seconds (Tyler Durden, 6/1/2010 Zero Hedge)

"With all the grace of a drunk Keynesian at an Austrian economists meeting, the Central Banks once again kill the EUR shorts and intervene to prop it up, for a ridiculous 250 pips intraday move. And thanks to Germany's Economics Minister Rainer Bruderle, we now know that the Fed is actively manipulating the FX pairs. Thank you Ben Bernanke for making sure that Atari has some confidence left in the manipulated market, as no humans are left any more."

Tweet