I've gone all-in on a long Swiss Franc, short Euro position. Not like all-in with my house mortgaged sort of thing, but all-in as far as my isolated forex account is concerned. Why? The Swiss National Bank is done betting their national GDP against declines, and the Euro-zone is basically DOA (dead on arrival). I'm not the first to say the Swiss Franc is the European Japanese Yen. But I agree with the premise.
The Euro has enjoyed a free ride courtesy of Bernanke and Friends, and that free-ness is about to come to a close. Austerity in Europe for non-watchmakers is a fantasy. And traders love fantasies.
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