What?!......"Cyprus?"
Posted: Sun Mar 17, 2013 2:44 pm
unless i'm dreamng...or on some new bizarre medicine, just reading of bad breaking news from Cyprus.....
there's a rush to withdraw funds, based on a new 9.9% tax on Cypriot deposits over 100K EUR.....6.75% below 100k
THIS is hitting the Euro BAD, and the implied opening of the SnP will be 30 pts lower! (?)
here's the zh article http://www.zerohedge.com/news/2013-03-17/fx-market-opens-eur-hammered-chf-bid-sp-open-30pts
now wt heck is this?
are they just blowing this out of proportion?........y'know a 30 point lower SnP opening isnt just some minor "sell off".....and since it involves the USD (presumably trading significantly HIGHER) is this raison det tray, these humps are going to use to sit on PM's?
there's a rush to withdraw funds, based on a new 9.9% tax on Cypriot deposits over 100K EUR.....6.75% below 100k
THIS is hitting the Euro BAD, and the implied opening of the SnP will be 30 pts lower! (?)
here's the zh article http://www.zerohedge.com/news/2013-03-17/fx-market-opens-eur-hammered-chf-bid-sp-open-30pts
now wt heck is this?
are they just blowing this out of proportion?........y'know a 30 point lower SnP opening isnt just some minor "sell off".....and since it involves the USD (presumably trading significantly HIGHER) is this raison det tray, these humps are going to use to sit on PM's?