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EUR/CHF: Have bears regained the upper hand?
As my colleague Fawad Razaqzada noted earlier today, the euro spiked briefly after this morning’s ECB meeting before reversing violently back to the downside in a mirror of yesterday’s price action in the US dollar. While the ECB’s plan to end its quantitative easing program at the end of the year was a hawkish development, traders had already anticipated that decision; instead, it was the central bank’s comment that it would refrain from raising interest rates until after summer of 2019 that caught the market off guard. As a result, we’ve seen the single currency plunge against all of its major rivals, ... (full story)