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Tuesday, 20 September 2011
More Gold & Silver Friendly news: Swiss Franc Plunges On Rumor EURCHF Peg To Be Widened To 1.25
To anyone short the USD/EUR-CHF who just went to the bathroom a minute ago, our condolences. The rumor is that the SNB will expand its EURCHF peg to 1.25 tomorrow. Completely unfounded of course. It may just as easily be another forceful intervention round. Or just plain and simple central planner rumor mongering: as noted, Swiss August exports plunged and Hildebrand will take any help he can get.
