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Likely so that the euro zone can rush exports for cash buildups and then increase the value of the euro so it can buy oil and gas. Meaning it will bounce back u
by yrgulation 4y ago
Likely so that the euro zone can rush exports for cash buildups and then increase the value of the euro so it can buy oil and gas. Meaning it will bounce back up soonish. Else a lot of people will freeze.
- lukeqsee 4y agoThis is simply not how forex works. The flows of money through FX are astronomical amounts of capital, and even central banks struggle to maintain a hold on a subset of their own currency market, let alone artificially dumping and pumping a currency. The SNB (Swiss National Bank) is probably the most powerful in that regard (able to adjust the currency to their liking), but that is due to having an abnormally strong currency they've used to buy foreign reserves they can utilize to maintain the price targets they want.