Forex Flash: EUR/CHF floor stays at 1.20 – UBS

FXstreet.com (Barcelona) - While most of the focus remains on Greece, the SNB Chief gave a speech during the European morning where he voiced his commitment to defend the 1.20 floor in the EUR/CHF: “He said the SNB is firmly committed to the 1.20 EURCHF floor, can buy unlimited quantities of foreign currency and will take additional steps if warranted”, wrote Chris Walker, analyst at UBS AG.

Ahead of the speech, the EUR/CHF rallied and found a high at 1.2084. Although a strong retracement followed, the pair is now back on those highs, quoting at 1.2082 at the moment of writing.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS