FXstreet.com (Barcelona) - The EUR/CHF flash spike to 1.2092, according to Matthew Alexy, VP of foreign exchange at TD Securities in New York, is not due to a "fat finger", saying there were too many trades logged to be just an error. "It can't be a missed hit because a lot of things traded. People had some currency to sell, and someone kept buying up to those levels" he says. According to Alexy, there is no evidence the trigger was SNB attempting to push up its EUR/CHF 1.20 floor, though he has no inside information.
Forex Flash: EUR/CHF spike not so clear to have been a fat finger - TD Securities
Mon, Aug 06 2012, 22:13 GMT | FXstreet.com
USD/CHF Jun 19 at 03:34 GMT
0.9198/03 (-0.02%)
H0.9208 L 0.9196
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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
