{"id":709,"date":"2011-09-08T01:46:19","date_gmt":"2011-09-08T05:46:19","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=709"},"modified":"2011-09-08T01:46:19","modified_gmt":"2011-09-08T05:46:19","slug":"swiss-franc-weakens-on-snb-action","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/","title":{"rendered":"Swiss Franc weakens on SNB action"},"content":{"rendered":"<p>The Swiss National Bank (SNB) threw a similar lifeline to Swiss exporters and tourist industry, pledging to support their currency at 1.20 Swiss Francs against the euro with &#8220;utmost determination&#8221; and to &#8220;buy foreign currency in unlimited quantities&#8221; to achieve this. [<a title=\"Bloomberg: Swiss Franc\" href=\"http:\/\/www.bloomberg.com\/news\/2011-09-06\/swiss-national-bank-sets-minimum-exchange-rate-of-1-20-against-the-euro.html\" target=\"_blank\">Bloomberg<\/a>]<\/p>\n<p>The euro jumped from 1.10 to 1.20 CHF on Tuesday and has been trading in a narrow range between 1.20 and 1.21 since then. Further speculation is inadvisable unless you have deep enough pockets to take on the SNB.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-09-07-chf.png?w=525&#038;ssl=1\" alt=\"EURCHF\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Swiss National Bank (SNB) threw a similar lifeline to Swiss exporters and tourist industry, pledging to support their currency at 1.20 Swiss Francs against the euro with &#8220;utmost determination&#8221; and to &#8220;buy foreign currency in unlimited quantities&#8221; to achieve this. [Bloomberg] The euro jumped from 1.10 to 1.20 CHF on Tuesday and has been &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Swiss Franc weakens on SNB action&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33],"tags":[654,1289,1292,3158,3313],"class_list":["post-709","post","type-post","status-publish","format-standard","hentry","category-uk-europe-countries-regions","tag-chf","tag-eur","tag-euro","tag-snb","tag-swiss-franc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Swiss Franc weakens on SNB action - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swiss Franc weakens on SNB action - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The Swiss National Bank (SNB) threw a similar lifeline to Swiss exporters and tourist industry, pledging to support their currency at 1.20 Swiss Francs against the euro with &#8220;utmost determination&#8221; and to &#8220;buy foreign currency in unlimited quantities&#8221; to achieve this. [Bloomberg] The euro jumped from 1.10 to 1.20 CHF on Tuesday and has been &hellip; Continue reading &quot;Swiss Franc weakens on SNB action&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-08T05:46:19+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2011\/2011-09-07-chf.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Swiss Franc weakens on SNB action\",\"datePublished\":\"2011-09-08T05:46:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/\"},\"wordCount\":82,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-07-chf.png\",\"keywords\":[\"CHF\",\"EUR\",\"Euro\",\"SNB\",\"Swiss Franc\"],\"articleSection\":[\"UK &amp; Europe\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/\",\"name\":\"Swiss Franc weakens on SNB action - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-07-chf.png\",\"datePublished\":\"2011-09-08T05:46:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-07-chf.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-07-chf.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/08\/swiss-franc-weakens-on-snb-action\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Swiss Franc weakens on SNB action\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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A monthly increasing of 50% (Staggering). Domestic liquidity (sight deposits) rose an (unbelievable) 390% (CHF 49b to CHF 191B). This information covers the period when SNB bet the farm in an effort to stabilize\/weaken the CHF. ......So\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6994,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/15\/australia-the-rba-should-emulate-the-swiss\/","url_meta":{"origin":709,"position":1},"title":"Australia: RBA should emulate the Swiss","author":"Colin Twiggs","date":"March 15, 2013","format":false,"excerpt":"Australia is suffering a similar fate to Switzerland, where the Swiss Franc soared against the Euro during the Eurozone sovereign debt crisis. Flight to safety caused the Franc to rocket, threatening local manufacturing industry. Exporters were priced out of international markets while imports were undercutting local suppliers. The Swiss National\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":931,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/22\/euro-troubles-pound-swiss-franc\/","url_meta":{"origin":709,"position":2},"title":"Euro troubles Pound Swiss Franc","author":"ColinTwiggs","date":"September 22, 2011","format":false,"excerpt":"Concerns about its European trading partner dragged the Pound lower against the greenback. Target for the initial primary decline is $1.53*. * Target calculation: 1.59 - ( 1.65 - 1.59 ) = 1.53 The Swiss Franc is now headed for a test of parity against the greenback, dragged lower by\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":195,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/11\/update-4-swiss-eye-more-steps-to-quell-franc-rise-reuters\/","url_meta":{"origin":709,"position":3},"title":"UPDATE 4-Swiss eye more steps to quell franc rise | Reuters","author":"ColinTwiggs","date":"August 11, 2011","format":false,"excerpt":"The Swiss National Bank could ease monetary policy further without having to resort to currency interventions to counter a soaring franc, Vice Chairman Thomas Jordan was quoted as saying on Thursday, as investors speculated over the bank's next move. The franc dropped 5 percent against the dollar and the euro\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":310,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/18\/swiss-franc-finds-support\/","url_meta":{"origin":709,"position":4},"title":"Swiss Franc finds support","author":"ColinTwiggs","date":"August 18, 2011","format":false,"excerpt":"The Swiss Franc fell sharply before finding support at $1.25 as fears of SNB intervention subsided. Expect some consolidation, but recovery above $1.30 would indicate another test of $1.40.\u00a0 Failure of support is unlikely, and would offer a target of $1.10*. * Target calculation: 1.25 - ( 1.40 - 1.25\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5530,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/19\/forex-update-2\/","url_meta":{"origin":709,"position":5},"title":"Forex Update","author":"Colin Twiggs","date":"September 19, 2012","format":false,"excerpt":"The Euro is testing resistance at $1.32 and its descending trendline. Upward breakout would warn the primary down-trend is ending. Recovery of 63-day Twiggs Momentum above zero indicates a primary up-trend. Breakout above the 2012 high of $1.35* would strengthen the signal, but only a higher trough of several weeks\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=709"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/709\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}