EUR/CHF: Did SNB Intervene?
Simit Patel | Jan 27, 2015 12:43PM ET
"Yup: a full reversal... with the EUR/CHF trading to below where it started before the suspected SNB intervetion, and promptly the narrative changed. The full blow by blow from Bloomberg:
- CHF Pares Losses vs EUR, USD as Intervention Talk Fades: Trader EUR erases gains vs CHF to fall ~2.90% from 1.03826 peak earlier, trading as much as 0.68% lower for the day at 1.00822.
- EUR/USD positioning is now less crowded, FX sales trader says
- Interbank names and some accounts that were stopped of their EUR shorts on squeeze higher sold EUR/USD, pushing the pair below 1.13
And then there was a suggestion that the EUR/CHF was merely trying to minimize its month-end P&L on its massive EUR holdings, however it promptly retracted its bid when it realized it was just adding fuel to the fire."
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.