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Market short EUR/CHF; Beware the SNB

By Jamie Coleman  || March 11, 2010 at 13:16 GMT
|| 2 comments || Add comment

Traders report that there had been lots of buying of short-dated downside protection in EUR/CHF (bearish bets)  in the last few sessions in the run-up to the SNB meeting, hoping the SNB would soften their tone on keeping the franc weak. Oops…

Beware a squeeze higher should the SNB come in and inflict pain on these fresh shorts.

We trade at 1.4622, having been as high as 1.4230 after the SNB held rates steady and said they would continue to keep the franc from strengthening.

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Category: All, Americas, Central Banks, Mkt Talk, Regions
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2 Responses to “Market short EUR/CHF; Beware the SNB”

  1. essenza on March 11th, 2010 13:28 GMT

    i bet there are a lot of trailing stop parking above 1.465

  2. Anthony on March 11th, 2010 13:28 GMT

    Hi Jamie,

    So given the SNB’s decision to “decisively” defend weakening the franc, what do you think is the new line in the sand?



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