The SNB may have saved its’ economy by embracing Chinese-style currency policy. Bloomberg report.
EUR/CHF down at 1.3650 from early 1.3740 as rumours swirl that the Swiss National Bank is preparing a September rate hike.
The SNB has been a very steady seller of EUR/USD into strength in recent session. Are they then just sitting on the dollars they buy in the process? Not all of them, traders say. The new home for a portion … Continue reading
Talk Swiss National Bank sitting on the offer at 1.3020/25. Also talk China sold around 1.3010/15. We’re presently at 1.3005.
Above 1.2900. We’re presently at 1.2895. Also talk U.S. bank sold decent amounts at 1.2900/10, apparently on behalf of real money. Speculation BIS could be acting on behalf of SNB.
SNB increased its foreign currency investments by some 132 bln francs in first half of 2010 Sharp appreciation of franc, in particular against the euro, resulted in exchange rate losses of over 14 bln francs (and you think you have … Continue reading
A source has recently told me there’s apparently an article in the Swiss newspaper Neu Zuricher Zeitung suggesting SNB’s Hildebrand may lose his job over SNB’s intervention related losses. The source feels if its true (he’s not conversant with how … Continue reading
Fresh on the heels of reports that they’ve lost $10 bln on their forex intervention, the SNB was reportedly a seller of EUR/USD on strength this morning (near 1.2720/25). Look for them to be sellers of USD/CHF on rallies, legging … Continue reading
The ill-advised attempts by the SNB to draw lines in the sand for the EUR/CHF have come at a heavy cost. The FT is reporting that total losses are close to CHF10 billion (although I’m presuming that the losses have … Continue reading
SNB can be satisfied with results of its monetary policy Resistance of Swiss exports to strong franc is pleasing SNB will step in to prevent an appreciation of the franc should deflationary dangers reappear EUR/CHF continues lower, presently at 1.3515 from … Continue reading