In my Daily Currency focus for FX360, I talk about whether Switzerland’s actions could trigger a Global FX War. The ultimate winner of any FX war is gold because if other central banks weaken their currency, then the only asset that isn’t facing selling by central banks is gold. Also Quantitative Easing will [...]

Posted in Swiss Franc, forex blog, quantitative easing, swiss national bank 1 Comment »

Switzerland has officially adopted a beggar thy neighbor policy approach by intervening in the currency market. This morning, they cut interest rates by 25bp to 0.25 percent matching U.S. levels. They have officially embarked on Quantitative easing and will be buying domestic and foreign bonds (fully synopsis of SNB rate decision) . [...]

Posted in Forex Technicals, Swiss Franc, eurchf, forex blog, forex signals, swiss national bank, usd/chf 2 Comments »

The Swiss are going crazy because they can’t figure out what to do with their currency. Yesterday, EUR/CHF collapsed after SNB President Roth ruled out intervention. This morning, the currency pair completely reversed its earlier losses because the Finance Minister said that the government would support the SNB in selling Swiss Francs. [...]

Posted in Forex Technicals, Swiss Franc, eurchf, forex blog, swiss national bank 1 Comment »

Like Florida weather, the Swiss National Bank can’t make up their mind about whether they want to intervene in the currency market or not. Last week, the Swiss franc collapsed after SNB Vice President Hildebrand said point blank that “they could also intervene in the currency markets to prevent “renewed appreciation” of the franc. [...]

Posted in Forex Technicals, Swiss Franc, eurchf, forex blog, swiss national bank 1 Comment »

There has been a lot of volatility in the foreign exchange market this morning, driving currencies to historic levels:
GBP/USD - 23 Year Low
USD/JPY - 13 Year Low
NZD/USD - 6 Year Low
EUR/JPY - 6 Year Low
CAD/JPY - 13 Year Low
GBP/JPY - Record Low
NZD/JPY - 8 Year Low
The most significant moves have been in the British pound, [...]

Posted in 2009 british pound forecast, 2009 gbpusd forecast, Bank of England, British Pound, Canadian Dollar, Forex Technicals, GBPJPY, Swiss Franc, eur/usd, forex blog, swiss national bank 3 Comments »