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chf peg finally breaks
- Thread starter oldtime
- Start date
Quote from contra:
I was under the impression it was never a "peg", but a floor.
It was never peg or floor. the Swiss National Bank announced in early Sept 2012 that it was prepared to buy as many euros as necessary to stop the franc strengthening beyond 1.20. The reaction was traders created a psychological fear and the 1.20 held....so far.
not only euros, but anything else out there for saleQuote from Compulsive:
It was never peg or floor. the Swiss National Bank announced in early Sept 2012 that it was prepared to buy as many euros as necessary to stop the franc strengthening beyond 1.20. The reaction was traders created a psychological fear and the 1.20 held....so far.
funny thing is, they had a guy with a microphone that just interviewed common people on the street
and they all said the number one problem was the strong franc
one guy was complaining he had to charge 8 euros just to sell a beer
Quote from Compulsive:
the Swiss National Bank announced in early Sept 2012 that it was prepared <b>to buy as many euros as necessary to stop the franc strengthening beyond 1.20.</b> [/B]
so basically you're saying it's a floor. It wasn't just traders psych that held it, because they in fact bought a shitload of Euro... then diversified.
no, it was us traders that did all the heavy liftingQuote from contra:
so basically you're saying it's a floor. It wasn't just traders psych that held it, because they in fact bought a shitload of Euro...
snb just stood there, like a stern father
and they will whoop your butt, if you dare cross them