EUR/CHF

lol thats for sure..might see 1000 pip jump -( in dreams )

By: Joe Brown Until 1115 GMT i'm now being told by a Uk clearer. ( and now confirmed on SNB website) The rumour doing the rounds just now is that the EUR/CHF peg is to be raised to 1.2200, which sources tell me is looking a bit improbable...

SNB had to publish foreign currency reserve yesterday but they did it today morning.
Also, I checked SNB.ch yesterday. It mentioned Jordan Speaking would be at 10:45 GMT, but when I check it today they change it to 11:15!

Snb interim chief jordan : Will buy unlimited fx if needed to defend franc cap, will take more steps if warranted

the SNB remains firmly committed to defending the minimum exchange rate of CHF 1.20 per euro. This commitment applies at any time, from the moment the market opens in Sydney on Monday to when it closes in New York on Friday. The SNB will not tolerate any trading below the minimum rate in the relevant interbank market. To enforce this policy, it is prepared to buy foreign currency in unlimited quantities if necessary. Moreover, it stands ready to take further measures if the economic outlook and the risk of deflation so require.

So, set ur s/l exactly at 1.199999999999999!

"Given this difficult environment, the SNB remains firmly committed to defending the minimum exchange rate of CHF 1.20 per euro. This commitment applies at any time, from the moment the market opens in Sydney on Monday to when it closes in New York on Friday. The SNB will not tolerate any trading below the minimum rate in the relevant interbank market. "

So i think 1.1950 stop is enough for me..

hahahahahha

More stronger language from the SNB. Let see friday inflation data..

SNB won't take any action before Greece situation, cos they want to see worst (default; big EUR selling)

ok agree also ..gud oppinion

Sell to target 1.2020, Sl 1.2085 ( Buy stop 1.2095 tp 1.2480 Sl 1.2079)

i think if we go to 1.2000 then we gonna fall much more deeper.I dont belive that they goin to 2 sumthin 1.2000...but we will see


more shorts u guys add/bigger chance we have that they gonna fuck ya up and hit stoplosses

Thomas Jordan, Vice-Chairman of the Governing Board of the Swiss National Bank
Swiss-American Chamber of Commerce, Geneva, 07.02.2012

Since last summer, Switzerland has been suffering the effects of the negative developments in the global economy, and particularly the escalating debt crisis in the euro area. The uncertainty over the debt crisis led to a massive appreciation of the Swiss franc during the summer months. In their search for safe financial assets, investors drove the Swiss franc to an all-time high against the euro in early August, which posed an acute threat to the Swiss economy and carried the risk of deflationary developments. In response, the Swiss National Bank (SNB) set a minimum exchange rate of CHF 1.20 per euro in early September of last year, which corrected the overvaluation of the Swiss franc to some extent. Thanks to this decision, investment planning for export-oriented companies has been facilitated, and the risk of both deflation and severe structural damage to the Swiss economy has been reduced. Without this policy measure, the extreme overvaluation of the Swiss franc and its volatility would probably have persisted.
However, the situation remains challenging for large sections of the economy - even at the current exchange rate, the Swiss franc is still very strong. The SNB expects it to weaken over time, and fall back to a level more in line with its economic fundamentals. As the data show, economic activity in Switzerland slowed significantly in Q3 2011. Exports, in particular, fell noticeably. In addition to the strong Swiss franc, the general global economic outlook has deteriorated and downside risks prevail. Given this difficult environment, the SNB remains firmly committed to defending the minimum exchange rate of CHF 1.20 per euro. This commitment applies at any time, from the moment the market opens in Sydney on Monday to when it closes in New York on Friday. The SNB will not tolerate any trading below the minimum rate in the relevant interbank market. To enforce this policy, it is prepared to buy foreign currency in unlimited quantities if necessary. Moreover, it stands ready to take further measures if the economic outlook and the risk of deflation so require.

It does not get any clearer than that, anybody feels like testing their resolve?

Wow, that's very encouraging. Gonna look at it everyday and look for a chance to jump in long for carry trade

Sometimes it's happen. I was the last who closed positions manually. I hope I'll be luckier next time.

FXstreet.com (Barcelona) - The Swiss Unemployment rate grew to 3.4% in January, following 3.3% registered in December, according to data released today by SECO. Analysts expected it to rise to 3.5%.

This is the highest level registered by the indicator since March 2011.

1.2108 is next resistance. Above it there are a lot of stop/buy stops.

Come on!

holy swiss franc. is the snb learning from their BoJ counterparts and conducting small scale stealth intervention?

Finally it moves....clearing my looooooongs.