2 Feb 2015
SNB targeting a ‘soft floor’ talks sends EUR/CHF higher – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments that the EUR/CHF cross climbed above 1.05 levels after reports surfaced that SNB is now targeting a new CHF floor at 1.05-1.10.
Key Quotes
“EUR/CHF cross was firmly above the 1.05 level during the session after weekend press reports circulated that SNB was now unofficially targeting EUR/CHF corridor between 1.05-1.10 level (aka a soft floor).”
“The SNB Sight Deposits for Week Ended Jan 30th (CHF) rose again and seen as an indication that the SNB had been in the market the weeks after its de-pegging announcement on January 15th.”
“The EUR/CHF price action also helped the EUR/USD move higher in the session with the pair testing 1.1350 just ahead of the NY morning.”
Key Quotes
“EUR/CHF cross was firmly above the 1.05 level during the session after weekend press reports circulated that SNB was now unofficially targeting EUR/CHF corridor between 1.05-1.10 level (aka a soft floor).”
“The SNB Sight Deposits for Week Ended Jan 30th (CHF) rose again and seen as an indication that the SNB had been in the market the weeks after its de-pegging announcement on January 15th.”
“The EUR/CHF price action also helped the EUR/USD move higher in the session with the pair testing 1.1350 just ahead of the NY morning.”