Hmm. That's a big pity. Cost me almost 10% of my net worth. I'm still up on my forex transactions taken as a whole (over five years or so), but this hurt and I will be going quiet for a long while again now. (Thought I should pop back in here to own ...

Hello people. Had to pop in to check something on another thread, so I thought I might do the honest thing and acknowledge that my long at 1,23 (open now for 18 months already) is looking VERY SICK at the moment. I will certainly be back here ...

Oh, yes, you're right. I thought I'd noticed references to the peg becoming less prominent, but I was not comparing like with like. All of the recent Monetary Policy Assessments start in exactly the same way. My bad.

SNB headlines latest monetary policy statement with reaffirmation of 1,20 peg. Significant in my opinion because you only make something so central to your communication if you believe that it might again be tested.

No. They will be fine.

But think of all those cuckoo clocks and ski passes that won't get sold. Have some sympathy for the "poor" Swiss export industry!

We've been here before. But I am relieved that the latest adjustment makes the swap on a EUR/CHF long only marginally negative. Holding a EUR 2,5m long will cost slightly less than EUR 2 per day. A few months ago it was costing more than EUR 25 a ...

BS is the term which "professional" traders use to describe market movements which they didn't predict, don't understand and lost money on. It is an abbreviation of "but surely", from the phrase "but surely it should have gone the other way". ...

1,28 is fine for me. :-)

Er, because the EUR is not strong now? It's high against the USD not because the EUR is strong but because the USD is weak, as a result of the Fed printing money (while the ECB did not). I do take your point though about the effects (or the short ...

Won't argue with you on this. You certainly know more about short term market dynamics than I do. Not so sure about this, though. Russia is run by a maverick who could do anything, but I believe China is more rational and is not in any hurry to see ...

I found the discussion of this news item an interesting read. url PK

I'm pleased to see more people adding to the pressure build-up, but it surprises me to see Morgan Stanley's position described as "another big CHF bet". Does a €10m position qualify as "big"?

zzzzzzzzzzz |-) Actually, though, to complete the risk analysis, you also need to be comfortable that your broker isn't going to go up in smoke in the meantime.

So, people, removing myself to a Mozambican beach for a couple of weeks didn't change much. The pair is back around where it was when I left; JohnBoy Clinton is still entertaining us with his opinions (can't follow most of it); and a couple more ...