SNB sets franc floor at CHF1.20 versus euro.

Discussion in 'Wall St. News' started by ASusilovic, Sep 6, 2011.

  1. gmst

    gmst

    Hongkong has maintained its band of 7.75-7.80/5 (not remember correctly) against usd for more than a decade successfully. So every intervention by cbanks has not failed.
     
    #11     Sep 6, 2011
  2. EBS/ICAP.
     
    #12     Sep 6, 2011
  3. LOL...some serious nut-jobs over there
     
    #13     Sep 6, 2011
  4. DT-waw

    DT-waw

    buying euros in unlimited amounts when euro is sliding into a total chaos and debt which cannot be escaped.
    hmm... seems like a great deal for SNB!

    swiss citizens will pay for it ultimately, and its a huge gift to few speculators who will finally manage to bring the EURCHF to parity sooner or later
     
    #14     Sep 6, 2011
  5. Be lucky that they did not implement negative interest rates!!!!!!
     
    #15     Sep 6, 2011
  6. Once again: study history. There was a time when SNB actually implemented negative interest rates.

    Might be worth pointing out that the SNB has imposed negative interest rates before – in 1972 it did this on deposits held by. The charge was up to 10% per quarter. It also did it again between 1977 and 1979.

    More here:

    http://ftalphaville.ft.com/blog/2011/08/03/641791/le-plan-negatifs-taux-dinteret/
     
    #16     Sep 6, 2011

  7. shhhhhh they're listening :(
     
    #17     Sep 6, 2011
  8. DT-waw

    DT-waw

  9. I personally hope that everyone foolish trend-chaser idiot who was still short had their entire account destroyed!! :D :cool: :p


    We all knew this was coming, and so only a total fool was short not long usd/chf!! :D
     
    #19     Sep 6, 2011
  10. siki13

    siki13

    Can you explain something to me ,because when it comes to economics i am complete n00b.
    If some country wants to weaken their own currency,can they just print
    money out of the thin air and use it to buy whatever (euro or maybe
    some foreign lands) until chf is in enough supply to just fall to desired levels?
    Or does printing CHF have some other repercussion besides weaker
    currency?
     
    #20     Sep 6, 2011