Swiss Franc makes an 800 point move after Intervention

I know some really lucky traders who were long of the Swiss forex pairs. Although you wouldn’t have been able to seen this coming the Swiss National Bank (SNB) sold a huge chunk of Swiss Franc which sent the Swiss pairs rocketing.

The USDCHF went 800 points and both EURCHF and GBPCHF rocketted 1000 points! This amounted to an almost 9% depreciation in the currency.

If you were lucky and were long of this currency before the SNB intervened, you would be sitting on a small fortune!


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Category: Spreadbetting, Trading