It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
The Swiss National Bank (SNB) considers the Swiss franc to be massively overvalued at present. This current strength of the Swiss franc is threatening the development of the economy and increasing the downside risks to price stability in Switzerland. The SNB will not tolerate a continual tightening of monetary conditions and is therefore taking measures against the strong Swiss franc.
The Japanese Yen has gone wild in the past minuted of trading, rising at light speed from 77.10 to just find resistance at 78.00. At present, the pair is correcting, reaching 77.70 only to rebound higher towards the high end of its recent swing high. With no apparent reason (Update: Noda confirms Japan intervened), the Yen's sudden depreciation suggests the BoJ may be finally taking action instead of just watching. Update: USD/JPY continues to rise, now at resistance 78.40. Read more: community.nasdaq.com...