Tag: Swiss Franc

January 15, 2015 BY Mike Fox

IG Group facing up to £30 million loss from Swiss Franc fireworks

The Financial Times is reporting that global brokerage house IG Group said that it could face a hit of up to £30m ($45m) after the Swiss franc shot up near 30% and settled near parity with the euro following the Swiss National Bank's decision to remove its longstanding exchange rate peg of 1.20 EUR/CHF. An…

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January 15, 2015 BY Mike Fox

Gain Capital's Forex.com halts trading in Swiss francs

Reuters is reporting that Gain Capital (NYSE: GCAP) today has suspended trading in Swiss francs due to the surge in swissy volatility after the Swiss National Bank unexpectedly abandoned the currency's exchange rate cap against the euro. "We're just waiting for our liquidity providers to come back and say they will provide liquidity again," said Kathleen…

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November 19, 2014 BY Mike Fox

Switzerland seen as delaying cap on the franc into 2017

“With monetary easing under way by the ECB and Swiss inflation still trending below target levels, the SNB will have to extend the currency cap against the euro into mid-2016 at the very least,” said Bernard Yaros, associate economist at Moody’s Analytics in West Chester, Pennsylvania.

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August 19, 2014 BY Mike Fox

Swissquote Daily Technical Report: USD/CHF - Monitor the short-term declining channel

In Swissquote’s Tuesday short term technical trading report, the research team outlines the major technical levels of popular currency instruments with forecasts, below is the outline for USD/CHF and USD/CAD. To view and download (PDF) the entire report, click here. USD/CHF: Monitor the short-term declining channel • USD/CHF strengthened yesterday, erasing all the losses made…

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June 20, 2013 BY Gerald Segal

Swiss National Bank to keep 1.20 per € cap

Retail forex trading among Swiss traders has dropped off since September 2011 cap was put in place, killing CHF volatility. The Swiss National Bank (Switzerland's central bank), in its periodical Monetary policy assessment, has announced plans to keep its CHF 1.20 per Euro cap in place, and will not allow the Swiss Franc to strengthen below…

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