Swiss Franc at US Dollar Parity - Competitive Devaluations afoot (Yen/SNB/Euro)?

[CrackSmokeRepublican]

Swiss Franc at US Dollar Parity


Swiss franc at US dollar parity and gold and silver soaring to new highs.

Risk off? At least some think so.

I wonder how long US equities can levitate in this environment.

Probably as long as the volumes remain thin and flashers can paint the tape.

If the shorts do not pile on in anticipation of a top we might see a nice dump into option expiration this Friday. Hard to say while the trade is so artificial.

Mom and pop are on vacation with the Griswolds in BondWalleyWorld. And that has the carnies edgy.

I must wait for confirmation from the BIS currency records which lag by six months, but it does appear that the recent dollar strength was attributable to another US dollar short squeezed caused by the further deterioration in the dollar denominated assets held by European banks and customer redemptions for currency.



http://jessescrossroadscafe.blogspot.co ... arity.html

[mchawe]

Yesterday the US$ Index took out the double bottom at 81.88. (Right now at 81.44). That is the first step. But the 80 level is the big one and it needs to take that out also. That is the level to watch.
Today will turn out to be an inside day indicating the market is still "unsure". If today's low 81.33 is taken out tomorrow, expect a fast move to a test of 80. Below that things get interesting. Place your bets !