- Post #13,826
- Quote
- Jan 15, 2015 2:11pm Jan 15, 2015 2:11pm
- | Joined May 2014 | Status: Member | 26 Posts
- Post #13,834
- Quote
- Jan 15, 2015 2:45pm Jan 15, 2015 2:45pm
- Joined Sep 2006 | Status: Member | 2,331 Posts
its just money
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Disliked{quote} Why? Everything you said means loses for SNB because any hint that they are going to drop the peg meant even more pressure on them. Why are they obliged in any way to take loses for us? They didn't recommend to anyone to short their pair currency and the cap purpose was not to encourage any trader to exploit their peg on their expenses. A peg my be announced and spare the bank of some loses, but the only way a peg can be dropped is by surprise. Any other way means huge loses for any CB which they are not bound to take so that us get rich...Ignored
Disliked{quote} They should have introduced massive negative rate first, making it very expensive to hold CHF. Then abandon the cap after some time. Money would search for another so called safe heaven, even when massive QE by ECB.Ignored
Disliked{quote} Yes, because they'd rather f*ck their pension funds and credit market with their massive negative interest rate to protect all those who exploited their peg at their expense...Ignored
Disliked{quote} Why? Everything you said means loses for SNB because any hint that they are going to drop the peg meant even more pressure on them. Why are they obliged in any way to take loses for us? They didn't recommend to anyone to short their pair currency and the cap purpose was not to encourage any trader to exploit their peg on their expenses. A peg my be announced and spare the bank of some loses, but the only way a peg can be dropped is by surprise. Any other way means huge loses for any CB which they are not bound to take so that us get rich...Ignored
Disliked{quote} But there are different conditions for each acc, for example cantons are not affected. Have u read the statement when they introduced -0,25%? They can aim negative rate as they want...Ignored
Disliked{quote} When they introduced the -0.25 rate, trading went 100% long EURCHF wich produced the largest bounty in a long time in the fx market, of course the Swiss bankers would pull the rug and collect the easy money by droping the ceilling. Tough for us traders and for Swiss firms. But that is the way this thing goes. The markets have been ambushed by the SNB, today they claim victory but in the near future they will regret what they did because credibility is everything in the markets and the SNB took a big loss of credibility today....Ignored
Disliked{quote} Correct me if I am wrong but the role of a CB is to maintain price stability and not to make profit. Once you mention profit where a CB is involved,then there is a conflict of interest because any CB governor can easily buy or sell their home currency and then jawbone accordingly if they are looking to make profit. Alternatively, the SNB could just have easily pulled their reserves at 1.20 and walked away at breakeven and left the market to stabilize a few pips below 1.20 and not 1800 pips below! Moreover, they can not lose money if they...Ignored