Swiss National Bank Vice President Jean-Pierre Danthine has stated that
if the currency peg on the Swiss franc had been maintained, the cost
would have been 100 billion Swiss francs (73 billion pounds) to defend
this month alone, and that the central bank is ready to intervene once
again. Meanwhile the eurozone concerns continue, with £6 billion having
been withdrawn from Greek banks since yesterday’s election
The Swiss National Bank has been monitoring the global situation with regards to currency markets very closely recently, and is now ready to intervene once again following the sudden removal of the 1.20 floor on the EURCHF pair on January 15 this year which created tremendous volatility and resulted in at best, negative client balances, and at worst, the insolvency of previously long-standing and well-capitalized firms.
Read more to Click Here /www.trade4x.net
The Swiss National Bank has been monitoring the global situation with regards to currency markets very closely recently, and is now ready to intervene once again following the sudden removal of the 1.20 floor on the EURCHF pair on January 15 this year which created tremendous volatility and resulted in at best, negative client balances, and at worst, the insolvency of previously long-standing and well-capitalized firms.
Read more to Click Here /www.trade4x.net
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