Goldman, Dresdner, the hedge fund and the barrier: The weeklyFiX
It was therefore not a major surprise when spot EUR/SEK moved towards a significant barrier that was known to be in place at 9.1500 on July 5. In a research note sent out the day before, Lehman Brothers advised its clients: “There is a big barrier at 9.15 EUR/SEK that still is defended. Once broken we could head lower quickly and aim for 9.1180.”
Market sources say that this particular option was initiated by Drawbridge, part of the US-listed Fortress Investments Group.
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