Period of extreme volatility in the forex markets too. Pound Sterling and Euro have declined precipitously against the Singapore Dollar as I write this. Pound to 1.929 and Euro to 1.69. The former is a historical low (yet again), the latter is not too far away from it’s historical low at 1.55-ish.
Swiss National Bank has also publicly stated it will intervene in the forex markets to keep EUR/CHF at a maximum of 1.20, which led to EUR/CHF to drop to… you guessed it… 1.20. It’s also dropped to 1.40 against the Singapore Dollar.
Interestingly enough, the US dollar has risen against the Singapore dollar. Now stands at 1.211.
Long term prognosis for these beleaguered western currencies? Heal, relief or comfort? I have no idea, but it doesn’t look too good. As far as I know, currency exchange rates in the long …