The central bank chief’s decision to reverse his pledge not to abandon
the Swiss franc cap has made him instantly unpopular in Switzerland
Thomas Jordan is the man responsible for the investor panic hitting currency markets on Thursday.
As head of the Swiss National Bank, the buck ultimately stops with him on the surprise decision to scrap a cap in the value of its currency against the euro, sending the Swiss franc soaring 30%.
It was a distinctly different message from the one he gave less than a month ago, when he said the cap would be defended with the “utmost determination”.
The move instantly made him unpopular with Switzerland’s exporters, making their goods more expensive to buy abroad at a time when many of the country’s trading partners in Europe are already struggling.
Read more Click Here / www.trade4x.net
Thomas Jordan is the man responsible for the investor panic hitting currency markets on Thursday.
As head of the Swiss National Bank, the buck ultimately stops with him on the surprise decision to scrap a cap in the value of its currency against the euro, sending the Swiss franc soaring 30%.
It was a distinctly different message from the one he gave less than a month ago, when he said the cap would be defended with the “utmost determination”.
The move instantly made him unpopular with Switzerland’s exporters, making their goods more expensive to buy abroad at a time when many of the country’s trading partners in Europe are already struggling.
Read more Click Here / www.trade4x.net
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