hmm how would you qualify the move to 1997 as 'real' when snb themselves claimed they didn't allow the rate to fall below 1.2?
- #5,101
- Apr 11, 2012 5:53am Apr 11, 2012 5:53am
- | Commercial User | Joined Sep 2005 | 2,784 Posts
- #5,102
- Apr 11, 2012 6:02am Apr 11, 2012 6:02am
They also said that 6 banks did have executed transactions below the 1.20 level regardless of snb bid, so that break was not a retail brokers-stop hunting, and this can happen again, fx market is not a centralized one. However i doubt that eventual breaks can be sustainable, ok price can break the floor of a few pips for a few seconds, that's all. keep your stops far from 1.2000 and that's all, peace
- #5,116
- Apr 11, 2012 9:01am Apr 11, 2012 9:01am
9:46 (Dow Jones) The Swiss National Bank has already stepped in to protect the euro-franc floor at CHF1.2000 and BBVA's Dustin Reid says at some point, the central bank will do more than just protect that line and look to push it sharply higher. If investors try to push through the floor a few times in the coming days (as they already did last week), that could compel the SNB to either enter the market in such quantities to push the euro up by multiple big figures and possibly simultaneously raise its minimum floor, Reid says. At minimum, most market participants expect the floor to hold up. The euro is at CHF1.2014 in Wednesday morning trading, from CHF1.2015 late Tuesday, according to EBS via CQG. ([email protected])
9:46 (Dow Jones) The Swiss National Bank has already stepped in to protect the euro-franc floor at CHF1.2000 and BBVA's Dustin Reid says at some point, the central bank will do more than just protect that line and look to push it sharply higher. If investors try to push through the floor a few times in the coming days (as they already did last week), that could compel the SNB to either enter the market in such quantities to push the euro up by multiple big figures and possibly simultaneously raise its minimum floor, Reid says. At minimum,...
