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Not 1.25 any more. UBS’ dramatic prediction on the new floor of EUR/CHF which could be 1.3000.
via Forex Flash: SNB likely to lift EUR/CHF floor to 1.3000 – UBS – NASDAQ.com.
After days of quiet, Euro decided to head south today. Is it really on track towards 1.26 to 1.28 and then 1.20 to 1.23?
Oh, and SNB won’t like it either unless their swiss franc also depreciates against dollar to keep up with euro; otherwise, they are not going to be happy to see EUR/CHF fall below 1.20.
via FOREX-Euro hits 10-year low vs yen, dented by stops | Reuters.
SNB did not push EUR/CHF to 1.25 and the markets celebrated by making CHF stronger. But since euro is still under lots of pressure, it may become weaker in the weeks ahead. I think SNB will continue to watch their currency closely and act if they need to.
via WORLD FOREX: Swiss Franc Jumps After SNB Holds Fire On EUR/CHF Target – WSJ.com.
Rumor has it that SNB may lift the EUR/CHF floor from 1.2000 to 1.3000.
Traders are seen to buy out-of-the money EUR/CHF option calls in anticipation of any surprise SNB moves.
Apparently, traders are very cautious this time around because SNB’s determined intervention on 9/6 caught so many off-guard.
More intrigue surrounds the CHF and another rumour of an imminent statement from the SNB.
Rumor yesterday was that following its success in pulling EUR/CHF up above 1.20 from close to 1.10 on the 6th September that the Bank was going to lift it to 1.25, a level that we suspect might need a lot more monitoring and the involvement of some intervention.
