Forex News Traders

[Ataglance2]

18:25 EUR/CHF: Sharp Stock Market Rebound Sparks Cross Rally New York, February 20th. Something spooked the stock market higher this afternoon, sending carry trades like long EUR/CHF higher in the process, but this cross has yet to clear the 1.6185 high from the 14th. There is talk that a leak of the FOMC minutes may have contributed to this afternoon"s unusual price action, but it appears we will have to wait and see about that.
The Feb 5 high at 1.6215 is seen as the gateway to higher prices, but this pair has been flighty at best for weeks and breakout trades will be kept on extremely tight leashes unless there is a clear-cut fundamental reason for them not to be. Fresh warnings by BAFIN carried via Reuters suggesting Germany"s fate remains linked to the US fate, financially speaking, is taming further EUR/CHF buying for now, even as the DJIA gives back more of its afternoon gains