GBP/CHF and USD/CHF 951 replies
EUR/CHF, USD/CHF turning up? 1 reply
DislikedThe coming week is going to be really interesting. Looking back over last week's PA. I'm amazed that New York traders didn't put more pressure on euro/swiss after the intervention. We may have reached a bottom on this pair. And definitely the PA is going to be very jittery if/when it gets down to the <1.4200 region. However, retail traders are still heavily net long on the pair. I'm 90% sure we'll see a retest of 1.4200, then see how it goes from there. The last intervention was very aggressive and shows the SNB really means business. I'd say...Ignored
DislikedThanks for the heads-up Rahulkghoh. I looked at the EURCHF daily chart and found that price had unusual spikes once in a while. The recent one is most aggressive as you mentioned. I guess SNB is both very determined and has a lot of cash to intervene in the market when it wants to. And yes this pair looks interesting these daysIgnored
DislikedGot this off UBS:
EURCHF: SNB stops CHF rise (April 6, 2010, 5:10 PM)
After EURCHF reached a new all-time low at 1.4144 last Thursday, the SNB stepped in and pushed EURCHF above 1.43. According to market information, the SNB is constantly present in the FX market. Until the next monetary policy meeting in June, the SNB is likely to keep EURCHF around 1.43.
The "constantly present in FX market" is interesting. The SNB may be trying to hold a peg here.Ignored