http://www.bloomberg.com/news/2015-01-15/snb-unexpectedly-gives-up-cap-…
When I created my username, it was getting close enough. It was the most fun day of my relatively short FX career, watching EURCHF move all the way up after getting oh so close to parity. In cold Genf the price difference between the two sides of the border was getting ridiculous, you could save over 50% by renting in France and commuting.
Today's move... is more interesting.
What are your thoughts on the future of EURCHF? What will happen to Switzerland now?
Skiing in Verbs just got a lot more expensive......
What about long term opportunities in stock that took the -12% hit such as Roche, Novartis, UBS etc... The value of my buying currency (EUR) decreased approx. by the same amount, so it does not make any sense to buy. However, if I had some CHF in a bank account I would surely use them to invest in those stocks. No way the currency has such an impact of those stocks (not 12% anyway).
"no longer justified" or maybe just too dam expensive with the plunge of the EUR. Their policy was not sustainable
SNB forcing Draghi's hand
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