Franc Plunge In Focus As Traders Ponder ‘The Mystery Of The Swiss In The Night’
We talked a ton about the Swiss franc this week.
And with good reason. For those who missed it, you can review some of our posts here and here, but suffice to say EURCHF blew through 1.12 for the first time since the SNB abandoned the floor, on its way to 1.13 and beyond:
By the time the smoke cleared, the franc had plunged 3% on the week:
Generally speaking, this is the market pricing in a more hawkish ECB. Recall this from Bloomberg's Anchalee Worrachate:
The SNB’s ever-dovish stance
Maybe it’s me, but, looking at the scale, it doesn’t look like a big plunge to me.
have you ever traded FX? you seem fixated on your own conception of the word “plunge,” but it what’s a plunge for one asset doesn’t equate to a “plunge” in another asset. For instance, the type of “plunge” you seem to be looking for would be characterized in FX as “nuclear bomb”
No, I haven’t. Got more to learn. Thank you.
A couple of % in FX is biggly
bigly billions.. https://www.youtube.com/watch?v=u_aLESDql1U