CHF continues to rise despite the EUR’s resilience. The SNB’s pledge to hold the CHF 1.20 cap will soon be tested. Since its inception last September it has worked, however, in the past few weeks’ market sentiment has changed dramatically. China considering greater involvement in EFSF and ESM program has done little to support currency so far.

Click Here for Why Trading Forex Now Beats The Stock Market

The British pound sterling is currently struggling to hold its value, despite the good news out of the Euro zone that Greek debt talks are nearing an end. The pound had a minor rebound on Monday, January 23, 2012, but experts expect it to give up ground soon. The Bank of England is coming to some conclusions in the near future that probably will include a need to increase monetary support. There is also talk that the BoE will ask to expand the Asset Purchase Facility up above the currently agreed upon 275 billion pounds.

A look back on 18 months of analysis and reports on the European Credit Crisis

The biggest fear this morning was not a rumor that China may ease their RRR or the imminent possibility of Cbank intervention in yen, nope, it was Deutche banks forex outage (it seems to have come with their profit outage)! The worlds largest currency player experienced a brief disconnect on ‘Autobahn’ forcing them to experience the old ways and provide voice broking for a full 10-minutes. This certainly highlight the importance of this institutions presence in the FX game or are investors that bored with the same recycled reasons for market movements this week?