Currency rates CHF / PLN, which yesterday fell from 4.28 to 4.1569 zł zł at the end of trading today briefly went down to 4.0618 zł, then quickly return to more than 4.17 zł. After the exchange rate amounted to 19.00 approx. 4,13 zł. , photo:
Tuesday in the currency market is marked by increased volatility of the Swiss franc. Do not miss this also Polish.
Frank from wall to wall
The course CHF / PLN, which yesterday fell from 4.28 to 4.1569 zł zł at the end of trading today briefly went down to 4.0618 zł, then quickly return to more than 4,17 zł. After the exchange rate amounted to 19.00 approx. 4,13 zł.
J. Peasant: On Wednesday, I will present proposals for frankowiczów
ZR. TVN24 / x-news
At the source of these shocks was a pair EUR / CHF, which first grew strongly in response to the words of the deputy head of speculation and the Swiss National Bank (SNB) about a possible currency intervention, and then took place strong profit taking.
The value of the franc will be announced in a few weeks
The increased volatility on pairs of franc should get used to. This currency, after the surrender of the SNB on 15 January, and to a lesser extent, to be run by the European Central Bank QE program, looking for a new equilibrium level. This search can take up to a few weeks. During this period, potential changes in trading, even as they will be as large as of yesterday and today, will have no predictive value. This applies equally to the EUR / CHF and CHF / PLN.
Swiss franc rate decreases. Will this trend continue?
The head of the Central Bank of Switzerland promises to intervene, but does it help?
The deputy head of the SNB suggested the bank’s willingness to intervene in order to weaken the franc. The situation, however, when, in its decision of 15 January, the SNB practically lost credibility, it will be difficult for effective intervention in the forex. Especially when the EUR / CHF is above par. Rather, it must be assumed that the SNB has reserved the right to intervene in a situation where the pair falls significantly below par and will be a threat of further strong declines (strengthening of the franc).
Martin Kiepas, Admiral Markets Branch in Poland, jk
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