Thu, Aug 11 2011, 14:16 GMT |
FXstreet.com FXstreetcom (Barcelona) - SNB's suggestion to peg the Swiss Franc to the Euro has triggered a sharp decline on the CHF, with investors rushing off the Swissy, and, according to David Song, currency analyst at the DailyFX, the reversal could go on, as the Bank embarks on a ?kind of quantitative easing.?
As a consequence, Song expects Swiss Franc weakness to gather pace over the next sessions: "The near-term correction across the Swiss franc crosses should gather pace going into the end of the week, and the central bank may go even further as it aims to make holding the Swiss franc ?less attractive."

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Source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=b65bd4b9-72f0-4c09-8140-5a3184dc948d
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