Tag Archive: Swiss National Bank

EUR/CHF: A History of Interventions: September 2011: The Floor Introduction

SNB Spotted In The Cross Today… Traders say the SNB was seen on the bid in lumpy size on the quick slide toward 1.2120 shortly after the open of US equity cash markets at 13:30. We’ve quickly bounced to 1.2170. By Jamie Coleman  || September 30, 2011 at 14:20 GMT Category: All, Americas, Mkt Talk, Regions || Tags: EUR/CHF || 0 comments || Add …

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Expectations: Jedi monetary policy

On Tuesday, the Swiss National Bank (SNB) adopted a bold policy of pledging to sell Swiss Francs in an unlimited amount to ensure that the exchange rate viz-a-viz the euro is at least 1.2 Swiss Francs per euro. The exchange rate promptly jumped over 8 percent to a bit more than 1.2 Swiss Francs per euro. The SNB can clearly weaken its currency in this way, so long as its commitment is unwavering.

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Exchange-rate targets: Francly wrong

WHEN the going gets tough, the tough buy Swiss francs. That was true in the 1970s, when the Swiss were forced to impose negative interest rates on foreign depositors. And it has been true in recent years, with Switzerland's currency rising by 43% against the euro between the start of 2010 and mid-August this year.

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Currency interventions: Francs for nothing

CENTRAL banks have historically been regarded as the guardians of a currency's value, but occasionally they want to drive their exchange rates down. Rarely have they acted as aggressively as the Swiss National Bank (SNB) did on September 6th.

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EUR/CHF: A History of Interventions: August 2011: the Top

  EUR/CHF Kicked Lower Again Hitting a new low this week of  1.1545 and is  down over 300 pips on the day. The moved largely initiated by a major swiss name earlier apparently in conjunction with a hedge fund. Comments from the Swiss Econ Min over the last hour hardly helping matters, after the govt aid package … Continue reading »

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EUR/CHF: One Year of Free Market (07/2010-07/2011): June 2011

Specs Scrambling For Cover In EUR/CHF The Armageddon trade is being taken off in dramatic size in thin-month-end markets, driving EUR/CHF above 1.2200. USD/CHF is nearing resistance at 0.8440. Traders not talk of significant interest from real money accounts to buy both USD/CHF and USD/JPY at the fixing at 15:00 GMT. The danger now is … Continue reading »

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EUR/CHF: One Year of Free Market (07/2010-07/2011): May 2011

May 2011 ForexLive Asian Market Open: Analysis With Fries Just brilliant Jamie Australian GDP this morning and the market is now gearing itself for a poor number after yesterday’s data and weekend comments from the Treasurer. China is selling rallies in AUD/USD and Middle East Sovereigns are buying big dips; sounds like a recipe for medium … Continue reading »

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Swiss Franc at record highs (May 2011)

May. 27th 2011 Extracts from the history of the Swiss franc (May 2011) This month, the Swiss Franc touched a record high against not one, but two currencies: the US dollar and the Euro. Having risen by more than 30% against the former and 20% against the latter, the franc might just be the world’s … Continue reading »

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Has the Swiss Franc Reached its Limit? (February 2011)

Feb. 6th 2011 Extracts from the history of the Swiss franc (February 2011) The second half of 2010 witnessed a 20% rise in the Swiss Franc (against the US Dollar), which experienced an upswing more closely associated with equities than with currencies. It has managed to entrench itself well above parity with the Dollar, and …

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EUR/CHF: One Year of Free Market (07/2010-07/2011): December 2010

Hildebrand Unable To Unload ‘Burden’ Of Record Franc As GDP Seen Slowing Bloomberg article. EUR/CHF down at 1.2595 from early 1.2635. Just reading UBS forex strategists say they are bearish the cross, focusing on 1.2439 ahead of 1.2283.  They see resistance at 1.2714. They also forecast a fall in USD/CHF.  See break through support at … Continue reading...

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Swiss Franc Surges to Record High (December 2010)

Dec. 29th 2010  Extracts from the history of the Swiss franc (December 2010)   In the last two weeks, the Swiss Franc rose to record highs against not one, not two, but three major currencies: the US Dollar, Euro, and British Pound. The Franc is now entrenched well above parity against the Dollar, and is … Continue...

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Capital controls: The poison cupboard of the SNB

The SNB has already tried a lot to weaken the franc. A (google) translation of a list of capital controls of the Never Mind the Markets blog.   The fear of the economic effects Brake by an overvalued franc increases. Massive interventions by the Swiss National Bank (SNB) with € purchases are now ineffective fizzles. Does it …

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EUR/CHF, a Year of Free Market (07/2010-07/2011): September 2010

Cable Showing Signs Of Tiredness Cable rallied above 1.5900 in the early European rush to sell EUR/GBP but the sharp fall since doesn’t bode well for the short term bulls. I personally have exited most of my long position and will look to reinstate towards 1.5500. GBP/CHF once again halted at the major 1.5360 low … Continue reading »

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Swiss Franc Touches Record High, Nears Parity (September 2010)

Sep. 9th 2010  Extracts from the history of the Swiss franc (September 2010)   In the year-to-date, the Swiss Franc has risen 3% against the Dollar, 15% against the Euro, and more than 5% on a trade-weighted basis. It recently touched a record low against the Euro, and is closing in on parity with the …

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EUR/CHF, a Year of Free Market (07/2010-07/2011): July 2010

EUR/CHF Hit Again EUR/CHF has been hit again, down at 1.3535 from early 1.3580.  Recently there has been talk of the Swiss National Bank selling the cross, something I for one certainly can’t substantiate.  Also yesterday there were rumours of a September rate hike in Switzerland.  All very murky. The EUR/CHF cross selling has helped pressure EUR/USD, which is … Continue reading »

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EUR/CHF: A Year of Free Market, June 2010

EUR/CHF Firmer EUR/CHF up at 1.3260 from early 1.3210.  Move comes as Hungary official says government plans loan deal with IMF.  Large German name seen buying the cross. By Gerry Davies  || June 30, 2010 at 06:45 GMT Euro Profit Taking Rebound The euro has found some buying support across the board on profit taking. I … Continue reading »

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SNB Abandons Intervention (June 2010)

Jun. 22nd 2010 Extracts from the history of the Swiss Franc (June 2010) The Swiss National Bank (SNB) has apparently admitted (temporary) defeat in its battle to hold down the value of the Franc. ” ‘The SNB has reached its limits and if the market wants to see a franc at 1.35 versus the euro, … Continue reading »

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EUR/CHF: A History of Interventions, May 2010

ForexLive Asian Market Open: EUR Worries Return The big Sovereign players couldn’t get enough of the EUR when it was at 1.40 and now it looks like they can’t get out quick enough. The BIS has been a regular seller on behalf of other central banks, the SNB are quietly trying to offload what they … Continue reading »

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EUR/CHF: A History of Interventions, April 2010

April 2010   Quick Look At The Order Books AUD/USD: stops below .9135 and again below .9070 USD/JPY: solid bids 92.70, stops below 92.40, heavy semi-official bids expected at 91.50 ( I’m hearing of “massive” stops below 90.50 so if market gets on a roll lower keep this level in mind) EUR/USD: looks like the order … Continue reading »

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EUR/CHF: A History of Interventions, March 2010

, March 2010 Big Barrier Eyed In EUR/CHF Traders report a large barrier option is in play at the 1.4200 level in EUR/CHF. Nothing attracts price action like a big barrier. The owner of the option wants to protect his investment while the bank that sold the option wants to knock it out to erase … Continue reading »

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