It's blood in the streets out there: nobody wants Euros because nobody knows if Greece will be in the EMU on Monday...

A Day In The Life Of A Swiss National Bank Trader

Submitted by Tyler Durden on 05/31/2012 11:47 -0400

• Don't Panic
• Greece
• Swiss National Bank
• Yen

It's blood in the streets out there: nobody wants Euros because nobody knows if Greece will be in the EMU on Monday... Or Spain for that matter, which is now fresh out of towels. You just happen to have the position of an FX trader at the SNB and everyone wants your money. What do you do? What do you do?
Simple: the world is hitting your EUR bid harder and harder...

Don't panic. Just turn around, and use all those EURs you just got stuffed with to buy Japanese Yen.


Rinse. Repeat.
Until the BOJ decides to return the favor of course.
Did we mention it is a central bank market out there?
h/t Alex

 http://www.zerohedge.com/news/day-life-swiss-national-bank-trader