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  #301  
Old 27.07.2010, 22:43
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Re: Gbp/chf..wow 1.76

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Exactly. And as the media has pointed out, FX losses will be mitigated by gains on it's gold reserves.
I think mitigated is the wrong word.
If they had stepped out of buying euros then they would have made a real profit from gold.

Their profit from gold has no causal relationship to their euro buying
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  #302  
Old 28.07.2010, 13:22
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Re: Gbp/chf..wow 1.76

i'm glad others think he should lose his job. i think if the broader swiss public knew the increased risks and potential losses they will feel then there would be a lot more anger about what the SNB has done.
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  #303  
Old 13.08.2010, 10:07
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Re: Gbp/chf..wow 1.76

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Is it the right time to invest in euro ?

1 = 1.3519

lowest is 5 years was 1.347


http://www.nzz.ch/finanzen/devisen/_...URITY_TYPE=CUR
This is the GBP/CHF thread . . . I think you need some sort of EUR thread . . .
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  #304  
Old 25.08.2010, 15:16
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Below 1.30 - Euro hits record low against Swiss Franc

How low can you go?

1 EUR = 1.2981 CHF and falling as I write this. A new record low for the Euro and a quite extreme one at that - this day 2 years ago saw the rate at c. 1.60, and 1 year ago at c. 1.52.

I'm expecting another turbulent autumn in the markets (a la 2008) as risk aversion returns with a vengeance.
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  #305  
Old 25.08.2010, 21:55
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Re: Gbp/chf..wow 1.76

Swissie on a roll eh? All time high vs Euro intra day. GBP vs CHF testing support levels. Ain't it fun surfin' the elliot waves?
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  #306  
Old 26.08.2010, 08:37
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Re: Gbp/chf..wow 1.76

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Swissie on a roll eh? All time high vs Euro intra day. GBP vs CHF testing support levels. Ain't it fun surfin' the elliot waves?
Indeed although there is a slight whiff of intervention/profit-taking this morning with the EUR back to nearly 1.31 and Sterling back over 1.60. The killer might be if (when?) 1 CHF > 1 USD which has only occurred for very brief periods before, and sticks. When back in '01 a franc would buy just 50-something US cents that would be quite some move within a decade.
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  #307  
Old 26.08.2010, 09:01
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Re: Gbp/chf..wow 1.76

Since sterling collapsed at the end of 2008 the exchange rate against the franc/pound has hovered between about 1.60 to 1.75 (the interbank rate, not what you'd get as an individual).

I've managed to predict sterling exchange rate moevments wrongly since 1997 - but the situation right now is extremely difficult to predict as economic uncertainty is widespread and every new news article brings a fresh panic.

However it looks likely that sterling will remain generally weak. It was overvalued from 1997 to 2008 in large part due to the UK's move into financial services at the expense of manufacturing. The banking crash of 2008 left UK particularly weak as a result.

Looking at other exchange rates it's clear that the CHF/GBP rate is not just due to sterling weakness - a couple of years ago 1 Euro bought 1.6 francs, today it only buys 1.3.
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  #308  
Old 26.08.2010, 09:02
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Re: Gbp/chf..wow 1.76

There's an article in the Telegraph today on Fresh flight to Swiss franc as Europe's bond strains return.
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  #309  
Old 26.08.2010, 09:05
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Re: Gbp/chf..wow 1.76

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There's an article in the Telegraph today on Fresh flight to Swiss franc as Europe's bond strains return.
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Yields on 10-year Swiss bonds fell to 1.02pc as investors flocked into the ultimate safe-haven asset, now outperforming gold.
This means nothing to me. Someone care to explain? I have some family coming from Scotland in october. Would it be a good idea for them to get some francs now or is it likely that the Franc will appreciate.

I know it's not certain whatever anyone says so I won't hunt you down if you give me wrong advice
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  #310  
Old 26.08.2010, 09:13
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Re: Gbp/chf..wow 1.76

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This means nothing to me. Someone care to explain? I have some family coming from Scotland in october. Would it be a good idea for them to get some francs now or is it likely that the Franc will appreciate.

I know it's not certain whatever anyone says so I won't hunt you down if you give me wrong advice
Honestly I feel that anyone who answers this definitively would be a fool. I would be equally unsurprised if in October they would
a) get the same rate
b) get 5% less
c) get 5% more
d) get some completely different rate!

There are just too many variables at play at the moment, too many different governments intervening in sometimes conflicting ways, and, whilst the Swiss economy is very healthy relative to just about anywhere else in the West, the Swiss banks have their own problematic debt - particularly relating to Eastern European housing. Now that this is a one-way flow (new lending is not forthcoming) the partial repayment of this debt is exaggerating demand for the Swiss franc above and beyond that already created by the Germans/French etc. abandoning the Euro for their personal savings.
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  #311  
Old 26.08.2010, 09:16
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Re: Gbp/chf..wow 1.76

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Honestly I feel that anyone who answers this definitively would be a fool. I would be equally unsurprised if in October they would
a) get the same rate
b) get 5% less
c) get 5% more

There are just too many variables at play at the moment, too many different governments intervening in sometimes conflicting ways, and, whilst the Swiss economy is very healthy relative to just about anywhere else in the West, the Swiss banks have their own problematic debt - particularly relating to Eastern European housing. The (partial/delayed/slow) repayment of these loans is exaggerating demand for the Swiss franc above and beyond that already created by the Germans/French etc. abandoning the Euro for their personal savings.
For the amount they will change it won't make a huge difference. But you know Dads and currency
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  #312  
Old 26.08.2010, 09:20
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Re: Gbp/chf..wow 1.76

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For the amount they will change it won't make a huge difference. But you know Dads and currency
- in my case father-in-law was asking just last weekend...
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  #313  
Old 26.08.2010, 11:19
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Re: Gbp/chf..wow 1.76

CHF is stronger and stronger against more or less all currencies:

Swiss franc breaks new record against euro



The Swiss franc reached a new high against the euro on Wednesday, rising to SFr1.2971 for the first time since the introduction of the European currency in 1999.

This latest appreciation of the franc against the euro follows the Swiss National Bank’s decision not to further intervene in the currency market for the moment.


The central bank announced in July that it spent around SFr132 billion to keep the Swiss franc down by boosting the demand for euros. The money went largely to buying the common European currency.

The Swiss franc still climbed against the euro during the first six months of the year, amounting to more than SFr14 billion in losses for the bank.
Late last year, the Swiss had to pay around SFr1.50 for a euro.
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  #314  
Old 26.08.2010, 12:11
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Re: Gbp/chf..wow 1.76

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Swiss franc breaks new record against euro
I posted about this yesterday here Below 1.30 - Euro hits record low against Swiss Franc as I noticed it wasn't appreciated last time this thread deviated away from Sterling Maybe the 2 threads should be merged?
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  #315  
Old 26.08.2010, 12:20
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Re: Gbp/chf..wow 1.76

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I posted about this yesterday here Below 1.30 - Euro hits record low against Swiss Franc as I noticed it wasn't appreciated last time this thread deviated away from Sterling Maybe the 2 threads should be merged?
& today
"The Swiss central bank may resume intervening in foreign exchange
markets to prevent a rally in the Swiss franc, should it become necessary,
Swiss National Bank President Philipp Hildebrand told weekly L'Hebdo. "

reminds me of that guy Canute?
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  #316  
Old 26.08.2010, 12:24
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Re: Gbp/chf..wow 1.76

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CHF is stronger and stronger against more or less all currencies:

Swiss franc breaks new record against euro



The Swiss franc reached a new high against the euro on Wednesday, rising to SFr1.2971 for the first time since the introduction of the European currency in 1999.

This latest appreciation of the franc against the euro follows the Swiss National Bank’s decision not to further intervene in the currency market for the moment.


The central bank announced in July that it spent around SFr132 billion to keep the Swiss franc down by boosting the demand for euros. The money went largely to buying the common European currency.

The Swiss franc still climbed against the euro during the first six months of the year, amounting to more than SFr14 billion in losses for the bank.
Late last year, the Swiss had to pay around SFr1.50 for a euro.
The various analyses around this topic by outside observers conclude the SNB's intervention did not have much effect i.e. only slowed the CHF rise but did not stop it.

The CHF is rising strongly versus not only the euro but the GB (under 1.6) & the US $ (around 1.02) so the SNB have a big job on their hands - probably too big!
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  #317  
Old 26.08.2010, 12:39
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Re: Gbp/chf..wow 1.76

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The various analyses around this topic by outside observers conclude the SNB's intervention did not have much effect i.e. only slowed the CHF rise but did not stop it.

The CHF is rising strongly versus not only the euro but the GB (under 1.6) & the US $ (around 1.02) so the SNB have a big job on their hands - probably too big!
I get paid in Euros and I'm Franks 1000 short per month over this time last year....
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  #318  
Old 26.08.2010, 12:43
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Re: Gbp/chf..wow 1.76

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Yields on 10-year Swiss bonds fell to 1.02pc as investors flocked into the ultimate safe-haven asset, now outperforming gold.
Now if I could only fix my mortgage for 10 years at that rate - I would even pay 1.03% Best published 10 year rate at the moment (that I found ) is the ZKB @ 2.38% then Swiss PO @ 2.45% - Even UBS are @ 2.74%

I remember somebody posted about a month ago "We already went to Post and Raiff and they told us that the rates on the internet is already too low. So they cannot decrease them.."

My personal view (not to be used by anyone for investment or any other financial decisions) is the UK£ will keep drifting down for years to come.
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  #319  
Old 26.08.2010, 12:47
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Re: Gbp/chf..wow 1.76

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I get paid in Euros and I'm Franks 1000 short per month over this time last year....
I have posted here several times that my personal view is that one should use the same currency for salary, living costs & investments - then you have no exchange rate risk in your personal enclosed world.
Also no possibility of an exchange rate gain & there may be issues if you have to change countries in the future.
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  #320  
Old 26.08.2010, 12:54
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Re: Gbp/chf..wow 1.76

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I posted about this yesterday here Below 1.30 - Euro hits record low against Swiss Franc as I noticed it wasn't appreciated last time this thread deviated away from Sterling Maybe the 2 threads should be merged?
I thought this thread is now named
"CHF foreign exchange highs and lows" ?

So deviation from Sterling is no longer a capital offence (pun intended)
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