EURCHF traded below the floor price set by SNB (Swiss National Bank), we have seen it trading at 1.1987 today. However SNB stepped in and soon EURCHF shot towards 1.2025 level, this fall in EURCHF will be short lived as SNB has promised that it is going to buy unlimited amount of foreign exchange to prevent CHF to strengthen further. Just after breaking below 1.20 level, SNB chief said that Swiss ... [Continue Reading]
Swiss National Bank Has Come up to Defend its 1.20 Peg for Euro, Buy Nifty Future
Swiss national bank had in month of August 2011 announced to buy unlimited quantities of foreign exchange to defend its currency from further appreciation. However SNB finds that CHF has fair value around 1.35, to protect its export based economy this task has been taken. Traders have noticed spike in EURCHF pair just after Swiss national bank announced, it is going to buy unlimited amount of ... [Continue Reading]