Here's what the chart for CHF against a basket of currencies looked like on 28 August, when I said it was getting silly:
Here's what happened since:
Starmer is afraid of change
1 hour ago
Monday, 19 September 2011
Swiss Frank, the post mortem.
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5 comments:
Yes that what did for the latest rogue trader. I have a sneaking suspicion that was just an excuse and the money is actually sitting in a Nigerian bank awaiting his release.
I think you mean Swiss Franc. Swiss Frank is a cabbie in Zurich.
It's always going to be subject to panic attacks, the more so with the advent of the egregious Euro.
A, is that the story they are putting out? Do you really think that the Swiss National Bank would do such a massive intervention without tipping off its own banks first? Don't forget that CHF dipped quite considerably a week or so before the intervention.
RE, I'm half-German, so it's "Frank" with a "k" and "Basel" not "Basle" as far as I am concerned.
Deutschmark Wadsworth?
BE, the very same :-)
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