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 »

Last week we raised the question of what the Swiss National Bank is waiting for and why they haven’t intervened. In that article we said “Everyone has an uncle point and for the SNB there is no question that we are nearing that level…” At that time, EUR/CHF was trading at 1.4272 and [...]

Posted in Intervention, eurchf, swiss national bank 5 Comments »

For the eighth trading day in a row, EUR/CHF has failed to rally. The Swiss Franc even ended the day at a fresh record high against the euro as traders test the resolve of the Swiss National Bank. This has led many currency traders to wonder What is the SNB Waiting For? Why haven’t they [...]

Posted in Intervention, eurchf, forex blog, swiss national bank 4 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 »