Alluding to Switzerland's decision to remove the 1.20 peg on EURCHF last month having been an effort to shore up the nation's vault-like economy, Switzerland's FX reserves have risen by CHF 11 billion in February, an all time high in the first whole month since the dramatic move by the country's central bank
Read moreThe Swiss National Bank held 498,398 billion Swiss francs in foreign currency at the end of January, compared with 495,130 billion francs in December, revised from an originally reported 495.104 billion
Read more"We are providing M&A opportunities and favourable capital investment terms to forex brokers that are experiencing financial stress due to recent market events.” - Mitch Eaglstein, CEO, Fortress Prime
Read moreSwiss National Bank Vice President Jean-Pierre Danthine has stated that if the currency peg on the Swiss franc had been maintained, the cost would have been 100 billion Swiss francs (73 billion pounds) to defend this month alone, and that the central bank is ready to intervene once again. Meanwhile the eurozone concerns continue, with £6 billion having been withdrawn from Greek banks since yesterday's election
Read moreIs this the end of Swiss commitment to purchasing Euro? FXTM Chief Market Analyst Jameel Ahmad looks in that direction
Read moreTradimo Managing Director Dean Peters-Wright states that after the shock value of what happened on Thursday, it is a drop in the ocean compared to what could happen in the euro-zone, because with the distraction of the SNB actions, the reason as to why the ECB needs to engage in QE in the first place has been overlooked
Read more"In many ways it comes down to having a plan ready to go. Getting a budget approved, having the relevant advertising material with trust related messages and having a mediaplan ready to go are all things that can be done in advance" - Bart Burggraaf, Managing Partner, Media Group London
Read moreUnlike the majority of central banks worldwide, Switzerland's central bank is 45% owned by private shareholders, thus is able to make decisions which have extreme consequences such as that of Thursday last week, in order to retain corporate stability, as it performs more as a corporation than a government department
Read more"We will continue to consider the exchange-rate situation in our decisions and intervene in the foreign-exchange market if necessary" - Thomas Jordan, President, Swiss National Bank
Read moreA look back at the most intriguing and popular Forex industry news stories from the past week at LeapRate. To make sure that you receive timely access to all LeapRate articles… Sign up to our Daily Forex Industry Newsletter on the right. → Well, a simple weekly featured post review can not sum up the amount…
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