Thought it about time we had a separate thread for currency plays.

Charts Currently Removed - New Ones To Follow Soon

Good Reading If You Like FX
http://www.mizuhobank.com/fin_info/exchange.html

Swiss franc soars as Switzerland scraps ban on cap
http://www.bbc.co.uk/news/business-30829917

Barclays loss
on Swiss franc moves

Fall looks overdone and a move back to the 25 day moving average first target now. The market awaits the ECB QE programme due this week.

The ECB will purchase bonds worth €60bn per month until the end of September 2016 and possibly longer - far more than previously expected.

The ECB has also said eurozone interest rates are being held at the record low of 0.05%, where they have been since September 2014.

ECB president Mario Draghi said the programme would begin in March.

He told a news conference the ECB would be purchasing euro-denominated investment grade securities in the secondary market.

He said the programme would be conducted "until we see a sustained adjustment in the path of inflation", which the ECB has pledged to maintain at close to 2%.

No reason not to be short and stay short on this news...

ECB STIMULUS PLAN
Via Twitter Nouriel Roubini Professor at Stern School, NYU tweets: ECB went for a larger QE program (over 1tr euros) in exchange for low risk sharing (only 20% of bonds purchased by ECB, 80% by NCBs [national central banks]) #WEF

All we need now is for Cameron to win the election, take us into the EU fully and watch our savings shrink as they get revalued as Euro's....

Finland’s prime minister opened the door on Thursday to a renegotiation of the terms of Greek debt short of a writedown in the face value owed, ahead of elections on Sunday. Speaking at the World Economic Forum in Davos, Alexander Stubb said that his country could consider extensions to the maturity of the debt and changes in the conditions attached to the debt, but no debt forgiveness. His Irish counterpart, Enda Kenny, the Taoiseach, agreed – FT.

Pound gains strongest level in seven years versus Euro

The only piece of news that really interested me was that America is looking to increase its sanctions against Russia..... This will surely have further downwards pressure on the Rouble and cause the government to carry on buying it to help stabilise the currency. With an increasing deficit brought about through trade sanctions and currency stabilisation the odds that we'll see a 1998 debt default are increasing.

Worth a read http:http://www.economist.com/node/21636720//

The Russian government is to spend at least 2.34 trillion roubles ($35bn, £23bn) to try to stave off an economic crisis, following a collapse in oil prices and the value of the rouble.

http://www.bbc.co.uk/news/world-europe-31018881

Have taken a Chunnel long just now as we broke above .75

Euro-dollar parity

Dollar licks its wounds

What's happened to Shortie?

He defected to over the road :(

Really! Why?

Not sure , it was after Goldfinger got banned .

Dollar recovers from two-month low

Watching the fall in Sterling and not far now from a tempting long play. GBP/JPY and intwresting pair right now.
By the way I never deserted to the other side, had a quick look at advfn but ultimately lost interest in posting on the BBs

GBP/JPY still off 52 week low @ 125.54. Considering a short play...

Mays exit speech tomorrow, the markets have priced in a hard brexit but I wouldn't be surprised if she extends current plans. You negotiate from a position of strength not weakness and for her to champion anything else would be political suicide longer term!