9:37 (Dow Jones) The possibility of a tax on foreign Swiss franc deposits is being cited as the reason for the spike in EUR/CHF. Why institute the tax now? Is it possible that the Swiss are preparing for a Greek exit, knowing the pressure which is likely to emerge on the euro and the subsequent pressure on the SNB floor of 1.2000. Getting the cross higher would give the SNB some breathing room and allow them to more easily maintain their floor in the cross. Do they know something we don't? Or are the Swiss, like everyone else, just being prudent. Just in case. ([email protected])
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(END) Dow Jones Newswires
May 24, 2012 09:37 ET (13:37 GMT)
Call us at (212) 416-3100 or email [email protected]
(END) Dow Jones Newswires
May 24, 2012 09:37 ET (13:37 GMT)
It will go back to 1.201....I love 
...now, "all" will be long when the price will be around 1.201. If they will impose tax be sure the peg will be taken out and it will become again a free trade.
