Traders note a research piece from UBS saying “don’t count on the SNB” to intervene to weaken the franc, specifically citing the bank’s futile experience trying to stem the tide toward CHF strength back in May/June. CHF strength is the … Continue reading
Some things never change…The SNB was trying to offload some of its huge stash of euros when I left on holiday in the 1.31/1.32 area and are still sellers two weeks later in the 1.27 region. The sales are not … Continue reading
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.
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