Tuesday, July 7, 2009

Euro / Franc continues to be in demand on the decline

Euro / Franc yesterday fell well below Chf1.52, but the retreat of the bulls were stopped near Chf1.5150 today indicated interest in buying, which, according to dealers, there is up to Chf1.5140, served as a platform for a pair of rebound above. As a result, the euro / franc is now possible to observe some Chf1.5186, although interest in selling is now evident around Chf1.5190/00 and dealers do not rule out new attacks weaken pairs. However, they note that market participants seem to continue to treat these as an opportunity for the resumption of purchases, taking into account the possibility of new interventions by the SNB. So among the options markets today was a noticeable demand for short-term options with страйками to Chf1.52, but also have been buying options on the страйками in the area Chf1.53/Chf1.54, expiring in two to three weeks.

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