EUR-CHF - Any ideas?

Any ideas as to this reaction on EUR-CHF today. This is just at the US employment figures were released, which were as forecast. No outher FX market reacted like this.

Any ideas?

Looks like the SNB carrying out their threat...

Check out the thread by GammaJammer entitled "18/06/09 "

That might help

As posted already FFSEAR (no-one even responded to my thread).

You can lead a horse to water...... (sigh)

WHere is this thread? can't find it!

I did see it (your post earlier)... it seemed unusual , no news etc

Never saw it. I only haunt this form. PM me next time!

It's not the sort of thing that shows up as scheduled news. That's precisely the point. Intervention has little lasting impact if everyone knows it's coming.

Even now the SNB, BIS and ECB are all declining to comment, even though the SNB was earlier talking about intervention (in terms of the market not getting too fixated on certain levels and that there's no hard and fast 'line in the sand' and the BIS show up in their own name on the toy (or, rather, toys plural as there seemed to be the same pattern in Currenex as in EBS). Definitely there in EBS though.

So the denials are all about preserving the last bits of mystery.

yeah ... I ve read this little story
Short-Term Trading Thoughts On Intervention My first introduction to intervention was the situation depicted in Figure 3.1 above, EURUSD, September 2000. You can see how exaggerated the candle of 21st September is compared with those around it. What happened? The ECB (European Central Bank) had been denying that they were worried about the euro’s weakness versus the USD. Then they ‘crooked’ by intervening in order to prop up the ailing euro. Now the market didn’t like this one bit. The market generally doesn’t like surprises but to have a central bank say one thing and do another is quite unacceptable. When the intervention came is was therefore a shock and the BIRD WATCHING IN LION COUNTRY 75
market reacted by ‘punishing’ the ECB. The professional market role players were furious and they sold euros because the fundamentals were wrong to buy euro. As mentioned before it took several months of repeated intervention before the ECB could stabilise the euro. On the day the intra day volatility was huge – 500 points. I saw it happen. The day’s high and low were made in a 15 minute period! Scary stuff.

how one`s know is coming remains mystery
pretty kool thou

BoJ also unafraid to get their hands dirty if need be (although not for a good few years now have they raped and pillaged like they used to).

Im just Glad i got out of this before it happened! was short at 1.5039

what was your short based on?