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Forex Flash: SNB wins a major battle – Societe Generale

By FXstreet.com,  January 14, 2013, 09:53:00 AM EDT

FXstreet.com (Barcelona) - Kit Juckes, Global Head of FX Strategy at Societe Generale notes that a big mover in currency markets this morning is the Swiss Franc, at least in relation to recent trends.

He comments that a 0.5% rise in EUR/CHF takes CHF to its lowest level against the euro since December 2011, and 3-M volatility has spiked to its highest level since last September for good measure. Further, he adds that risk reversals haven't been this skewed in the last 10 years. He writes, "The SNB has won its battle, for now, which tells us more about capitulation of euro bears, that capitulation of CHF bulls, I suspect."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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