It is a record breaking day in the Swiss Franc. Here’s a table comparing the biggest one day moves in EUR/CHF and USD/CHF since the inception of the euro in 1999. The SNB put a floor under the Swiss Franc by saying they will do all that they can to keep EUR/CHF above 1.20. [...]

Posted in Swiss Franc, swiss franc 1.20, swiss national bank No Comments »

There was a sharp move intraday in EUR/CHF that smells like intervention…but was it? SNB member Hildebrand and the Bank of International Settlement has declined to comment on the move in the Swiss Franc. The first chart shows today’s price action in EUR/CHF and the second shows the price action of EUR/CHF when [...]

Posted in Swiss Franc, swiss national bank 2 Comments »

Although everyone’s focus is on the Federal Reserve’s interest rate decision this afternoon, we have a lot of action in the European currencies. If you notice, the Euro is one of the few major currencies to under perform the dollar this morning because of the massively well subscribed ECB refinancing. In my daily [...]

Posted in Currency Intervention, Swiss Franc, swiss national bank 2 Comments »

The Swiss National Bank has been intervening in the currency market since March. Unlike other central banks who have failed at intervention, the SNB has done a fantastic job keeping EUR/CHF above 1.50 for the past 3 months. The SNB focuses on EUR/CHF over USD/CHF because the European Union is by far the [...]

Posted in Currency Intervention, EURJPY, Swiss Franc, swiss national bank 1 Comment »

Last week’s intervention efforts have put a floor under EUR/CHF. The possibility of more gains was cemented by comments from SNB Member Jordan today who said that Switzerland could offer negative rates on deposits.
Many people may be scratching their heads wondering if the Swiss could actually follow through with its threat but [...]

Posted in Swiss Franc, swiss national bank 3 Comments »