EUR/CHF on the move again

I’m trying to verify what’s causing the move in EUR/CHF with a vague rumour during the rounds that SNB to make an announcement over the weekend. The cross is up at 1.2035 from its usual 1.2010 level.

9 Comments

  1. Heya Sean, what type of rumour is doing the rounds? Hypothetically even if the SNB enacted tax on deposits what effect would that have on the franc weakening?

  2. Exactly right Tom, little immediate effect I’d think. Friday is terrible for various rubbish rumours and I try and ignore them, though I guess its better to know that the rumours are doing the rounds

  3. ok then let’s put out heads together. would it be better for the SNB to raise the peg today as opposed to waiting longer?

  4. Peg raise impossible i think, not with the whole greek debacle going on if it really implodes it would make the SNB’s job so much harder…

  5. they already lost & raising the peg will make their losses bigger. why do they need to defend eur/chf when they can sell watches & chocolate here? ;)

  6. ok am all in e/chf.

  7. if ever trading felt like gambling, i guess this is it.

  8. I think the pair to be pegged above 1.225 . We should not forget that the pair moved down more than 6700 pips during the past 5 years .

  9. Alex the other is right , this is gambling. Best avoided.

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