CHF (Swiss Franc)

Re: CHF (Swiss Franc)

Postby winston » Wed Nov 18, 2015 9:09 pm

Swiss franc fund FXF falls to a new 52-week low.
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Re: CHF (Swiss Franc)

Postby winston » Sun Aug 06, 2017 8:10 pm

Chart of the day: Swiss franc faces further decline

by Nicole Elliott

For the best part of six years, the Swiss National Bank has been trying to stem the strength of the Swiss franc, targeting the exchange rate against the euro to help the small, open, export-oriented nation.

If European Central Bank president Mario Draghi said he would do “whatever it takes” to save the euro, the SNB has put its money where its mouth is.

From taking its key interest rate to minus 75 basis points, it has intervened in the currency market so much that its foreign reserves have ballooned to 670 billion francs (US$688.5 billion) from 300 billion.

With the SNB undeterred by the cost, this fortnight saw a further sudden 5.5 per cent devaluation in the franc, which was probably part of an A, B, C-type correction with a target at 1.206 francs.

Source: SCMP

http://www.scmp.com/business/markets/ar ... er-decline
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Re: CHF (Swiss Franc)

Postby winston » Wed Dec 27, 2017 8:34 am

Chart of the day: Swiss franc on weakening path

by Nicole Elliott

Rather than the unlimited access via “equivalence” to the financial markets in the European Union that Switzerland had paid €1 billion (US$1.2 billion) for, Brussels on Thursday decided on a 12-month agreement only, pending broader negotiations about their bilateral relationships.

This added to the developed world’s tendency to higher interest rates – or less negative ones in Switzerland – sparked by US President Donald Trump’s tax reform victory.

In turn, the Swiss franc moved to its weakest level this year and close to levels last seen before the currency peg to the euro was dramatically ditched in January 2015.

This was music to the Swiss National Bank’s ears and a move that, with a little luck, ought to extend through to 1.20 francs (US$1.21) – before the drama began.

Source: SCMP

http://www.scmp.com/business/markets/ar ... ening-path
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Re: CHF (Swiss Franc)

Postby winston » Thu Jun 16, 2022 9:14 pm

by behappyalways:-

In Shock Decision, SNB Hikes Rates For First Time In 15 Years, Warns It May Sell Billions In Stocks

(yes, the SNB files its stock holdings like any other hedge fund), it owns some $177 billion in US stock (and hundreds of billions in other securities), which it may now proceed to sell to keep the Swiss Franc stronger.

Source: Zero Hedge

https://www.zerohedge.com/markets/shock ... ons-stocks
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