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Author Topic: Swiss franc massive rally  (Read 1288 times)
Ghepetto
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January 16, 2015, 10:38:34 PM
 #1

http://www.wsj.com/articles/swiss-franc-move-cripples-currency-brokers-1421371654

http://www.bloomberg.com/news/2015-01-15/new-zealand-currency-broker-closes-on-losses-after-swiss-shock.html



30% jump to the euro, which happened in minutes.






Summary:Swiss banks removed the cap of the franc against the euro.

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January 16, 2015, 11:03:18 PM
 #2

Yeah it's a big news indeed but I think what they did have a point. With euro continue to slide downwards it's not sensible to continue to peg to the currency by printing more franc to sustain that. Furthermore eu has been pressed into adopting qe which they have been persistent to avoid till now

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January 17, 2015, 12:26:50 AM
 #3

30% jump to the euro, which happened in minutes.

30% sounds better than the truth.
It is actually 14%. Not many got lucky to trade the first swing and overshoot. Nearly all online banking and trading systems were on hold for private owners for several hours.

< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
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January 17, 2015, 12:27:33 AM
 #4

Now just imagine what their currency was actually baled by gold.  /snicker
Ghepetto
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January 17, 2015, 02:46:00 AM
 #5

30% jump to the euro, which happened in minutes.

30% sounds better than the truth.
It is actually 14%. Not many got lucky to trade the first swing and overshoot. Nearly all online banking and trading systems were on hold for private owners for several hours.




BBC reported a 30% peak, correct me if I am wrong but the 14% you speak of was the close

http://www.bbc.com/news/business-30829917


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January 17, 2015, 02:59:17 AM
 #6

"Following the SNB move the euro went from buying 1.20 francs to buying just 0.8052, but it later recovered to buy 1.04."

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January 17, 2015, 05:18:46 PM
 #7

The best part is that unlike BTC, the Swiss franc is expected to remain its value. It won't go down next month.
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January 17, 2015, 05:46:17 PM
 #8

Swiss franc for years was considered the most value stable currency. Since couple years ago things changed. Now everyone who have credits in swiss francs are literally doomed to pay a lot more. But swiss franc is still more stabler than bitcoin's and its fluctuation... which is like... non existent.


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January 17, 2015, 06:20:17 PM
 #9

Swiss franc has remained strong through the crisis. Pegging to Euro does not make sense.
Its a good decision by them.


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January 17, 2015, 07:26:20 PM
 #10

It's a good decision for Swiss maybe, but awful for people. In my country who took loans in swiss franc used to pay $400 monthly (installment was $400 per month), now it's 800$ per month


WTF!!! Huh
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January 17, 2015, 07:30:42 PM
 #11

It's a good decision for Swiss maybe, but awful for people. In my country who took loans in swiss franc used to pay $400 monthly (installment was $400 per month), now it's 800$ per month


WTF!!! Huh

That is your own problem. Why do you take a loan in swiss franc, when you live in a country with a high inflation.
And I highly doubt, that 15% Price increase result in 100% increase of your monthly payment.

It is always about risk, and a lot of people have no clue. Taking loans is ok, but you should be able to pay the loan , even if the interest rates rises from 1% to 5%! Otherwise you just live on a razors edge.

Swiss franc for years was considered the most value stable currency. Since couple years ago things changed. Now everyone who have credits in swiss francs are literally doomed to pay a lot more. But swiss franc is still more stabler than bitcoin's and its fluctuation... which is like... non existent.


Bitcoin is not valued less. You just should have transfered your fiat to switzerland and in CHF. The $/CHF ratio was 4:1 30 years ago! You could have quadruppled your USD savings just by buying CHF and let it sit in a bank account.

< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
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January 19, 2015, 03:44:12 PM
 #12

It's a good decision for Swiss maybe, but awful for people. In my country who took loans in swiss franc used to pay $400 monthly (installment was $400 per month), now it's 800$ per month


WTF!!! Huh

Leaving your currency risk unhedged... That is crazy.
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January 19, 2015, 04:13:09 PM
 #13

sorry in advance.... MWHHAHAHAHAHAHAHHAHAHAHAHAHAHHHHHHHHHHHHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHAHHA HAH bleed suckers. From your stupidity, greater things will come to fruition. so thank you.

p.s. if btc drops it's or someone sold, or it's hacked - exploits - what ever word will be used. basic, easy.

And NO ONE FORCED YOU TO JUMP IN THE POOL... you believed to know how to swim... we will see if you wear a bath suit... be assured (always during the scavenging process).

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January 19, 2015, 04:40:09 PM
 #14

It's a good decision for Swiss maybe, but awful for people. In my country who took loans in swiss franc used to pay $400 monthly (installment was $400 per month), now it's 800$ per month


WTF!!! Huh

Leaving your currency risk unhedged... That is crazy.

True but I bet lots of fx traders trading a few pips up and down were wiped out when they removed the peg. Its the sort of thing that would happen to me, sell the CHF just as they unpeg it!


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January 19, 2015, 04:49:59 PM
 #15

What must be more boring is when you took the trade right, but your broker got wiped out... forget your profit Cheesy.

anyway at the end it's bring resilience.. those that have survived will know better next (on this mistake, only Cheesy).

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January 19, 2015, 05:36:12 PM
 #16

The best part is that unlike BTC, the Swiss franc is expected to remain its value. It won't go down next month.
I would doubt that many people expect it to remain that high. Both a 30% or a 14% jump in a few months (let alone one day) is generally too much for most central banks so their central bank will likely intervene to weaken it in the near future
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January 19, 2015, 05:45:22 PM
 #17

Quite a few Russian billionaires using Swiss Franc as a hedge against declining Ruble it would appear.

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January 19, 2015, 10:54:22 PM
 #18

The best part is that unlike BTC, the Swiss franc is expected to remain its value. It won't go down next month.
I would doubt that many people expect it to remain that high. Both a 30% or a 14% jump in a few months (let alone one day) is generally too much for most central banks so their central bank will likely intervene to weaken it in the near future

We shall see this 14% rise as a correction after years of forced stabilization. So there might be a quick 2% adjustment but the fate of the currency looks bright.
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January 20, 2015, 02:12:33 AM
 #19

For the past three years, the Swiss Franc had been kept at an artificial ceiling of 1.20Fr to €1. The Franc is about to be in heavy demand as a result of the ECB's qunatative easing plan (they're going to buy up lots of bonds), so many will buy up Francs because of its comparative stability. The Swiss central bank doesn't want to give these buyers an artificially low rate.
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January 20, 2015, 07:30:09 AM
 #20



The number of base money has increased 8X since 2008, I guess that SNB dare not to scale it up any more, they might forecasting a total collapse of the whole euro system, thus evaded it without even make a claim

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