Swiss National Bank (SNB) decided to renounce the hard barrier
on the Euro and Swiss Frank currency pair. So the Swiss Frank
skyrocketed against all other curreny pairs, and stock markets
took a dive.
Everything reversed a bit by now. Could be a non-event for
you guys, but certailly not for the Swiss. Within minutes the SNB
took a loss of over 100 Billions. With swiss stock markets down 10
% and foreign currencies down 15 %, the swiss people got fucked by
their own central bank. In my opinion we are not the only ones but
you just have not realised it yet ....
Maybe it is the start of something bigger but as I said before,
the rest of the world can do business as usual.
And be prepared for swiss tourists out there.... it never has
been cheaper to travel....
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
What happened?
Posted by zwyss on 15th of Jan 2015 at 07:27 am
Swiss National Bank (SNB) decided to renounce the hard barrier on the Euro and Swiss Frank currency pair. So the Swiss Frank skyrocketed against all other curreny pairs, and stock markets took a dive.
Everything reversed a bit by now. Could be a non-event for you guys, but certailly not for the Swiss. Within minutes the SNB took a loss of over 100 Billions. With swiss stock markets down 10 % and foreign currencies down 15 %, the swiss people got fucked by their own central bank. In my opinion we are not the only ones but you just have not realised it yet ....
Maybe it is the start of something bigger but as I said before, the rest of the world can do business as usual.
And be prepared for swiss tourists out there.... it never has been cheaper to travel....