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The Swiss confirm that they are intervening when the Franc strengthens!
By Sean Hyman | July 10, 2009
The Swiss are intervening in their currency when they notice the franc’s strength. This is likely to continue until their economy no longer suffers from the franc’s appreciation OR until global economic growth is solidly underway to where traders are “franc sellers” once again as they seek out higher yielding currencies at that point. Here’s the Bloomberg article that confirms the Swiss actions: http://www.bloomberg.com/apps/news?pid=20601083&sid=ad95AZDGUM9s So while many pairs are falling lately, the Swiss are attempting to put a floor under EUR/CHF in particular. If they are successful, then one could pick up some meager rollover interest daily with minimal downside risks when compared with other currency pairs out there.
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Sean Hyman
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Topics: What To Look At In The Market | 1 Comment »
July 10th, 2009 at 11:20 pm
This is very informative. Thanks