As Jamie mentioned overnight, a report from a US consultant concluded that the SNB could not hope to continue intervening in EUR/CHF and this helped the pair to fall 60 pips immediately and the slow slide has continued in Asia. … Continue reading
Most directors thought swiss franc not misaligned, recent franc rise mostly reflects strengthening findamentals (SNB will love that one) IMF endorses Switzerland’s intention to return to free-floating currency regime Any swiss currency intervention should be limited to resisting disruptive pressures … Continue reading
EUR/CHF used to move about 30 pips in a week. Today we’ve seen it go up 250 pips and then drop 200 pips, and thats before Zurich really gets going. I wouldn’t be at all surprised to see the SNB using … Continue reading
I’ve heard from two different sources that the bids around 89.00 last night in USD/JPY were exceedingly large and both parties are of the same view that semi-official intervention was taking place. This would be no surprise as the Japanese … Continue reading
He’s right, since they are selling CHF. If they were buying it, they could spend all their reserves…Just ask the BOE about 1992… Gets expensive though, when it falls from 1.55 to 1.40….
I have a nominee for the Dumb Central Banker Hall of Fame: Thomas Jordan of the SNB. If he was quoted accurately (a big if) he said that the appreciation of the CHF has not been really excessive. Than why … Continue reading
Down from 53.4 in April. EUR/CHF sits at 1.4230. Haven’t heard any talk of SNB activity in Europe this morning. Last I saw was Sean reporting the bank lined up down at 1.4220.
After ripping EUR/CHF as high as 1.4300 (wasn’t that area an old “line in the sand”?) the SNB has stopped chasing but has set up camp at the 1.4220 level. Gotta give them points for persistence. We trade now at … Continue reading
Desperate times call for desperate measures it would seem judging by the comments above. The SNB has spent billions to try and keep the Swiss franc from rising as a safe-haven from the euro but the results have been under-whelming, … Continue reading
SNB president Hildebrand says the eurozone crisis is a danger to Swiss price stability and its economic recovery. The situation is a concern because the ECB cannot influence it directly. The SNB can react flexibly and decisively to counter external … Continue reading