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 »

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 »