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Reuters:

The euro weakened against the dollar and the Swiss franc after euro-area finance ministers agreed to an unprecedented tax on Cypriot bank deposits as part of a rescue plan for the country.

Europe's 17-nation shared currency slid 1.1 percent to $1.2932 at 6:26 p.m. London time. It declined 0.8 percent to 1.2170 Swiss francs.

 

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Mar 17th, 2013 at 03:06:39 PM EST
Ah, all of this is a clever maneuver to make german exports more competitive.
by IM on Sun Mar 17th, 2013 at 03:37:42 PM EST
[ Parent ]
Euro skids across the board in initial Cyprus reaction:

SYDNEY, March 18 (Reuters) - The euro skidded lower in Asia early on Monday as surprise news that Cyprus would have to tax depositors as part of a bailout plan was taken as setting a dangerous precedent that at worst could ultimately risk bank runs elsewhere in the region.

The single currency was changing hands at $1.2907 , down from $1.3054 late in New York on Friday. It sank against the yen to 122.27 yen, from around 124.54. And it fell on the Swiss franc to 1.2185 francs, from around 1.2275.

The various FOREX entangled derivative cons instruments are rigged traded OTC so I'm not finding anything.  

Not seeing anything about euro/krone trading.  I'd expect the krone to rise versus the euro unless the Riksbank intervenes.  Pretty much ditto for the Norwegian krone and Norge Bank.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Mar 17th, 2013 at 07:07:11 PM EST
[ Parent ]

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