Swiss franc peg

[AtW]

So the Swiss central bank steps in to help out Swiss companies - triggering a $2bn loss at one of its largest

Swiss company should not have spekulated against Swiss currency ...

Perhaps there should be a simple code of conduct for banks - don't engage in bets against country where they are present...

[centurian]

"Speculation was mounting that he may have been caught out after the Swiss Central Bank unexpectedly devalued the franc last week, producing mammoth losses on one of his currency trades.

So the Swiss central bank steps in to help out Swiss companies - triggering a $2bn loss at one of its largest

[NotAllThere]

Fortunately, I managed to pay for my new kitchen from Germany the day before the pegging.

[eek]

Caught me out too.

I've now learned a valuable lesson on stop losses. I didn't have any and it wiped one of my SB accounts.

Ouch!

It wouldn't have helped you much in this case. The change in Swiss Franc rates was virtually instantaneous and there are clauses with most firms that state when stop losses would cost them money they will ignore them and come and get you for any shortfall in your account.

[AtW]

I've now learned a valuable lesson on stop losses. I didn't have any and it wiped one of my SB accounts.

Is that you Nick?

[DimPrawn]

"Speculation was mounting that he may have been caught out after the Swiss Central Bank unexpectedly devalued the franc last week, producing mammoth losses on one of his currency trades.

It was then that Adoboli’s final Facebook message, believed to have been left on Tuesday, September 6, read: ‘Need a miracle"

Kweku Adoboli: Desperate Facebook message of USB banker accused of £1.3bn fraud | Mail Online

Caught me out too.

I've now learned a valuable lesson on stop losses. I didn't have any and it wiped one of my SB accounts.

Ouch!

[AtW]

You been spekulating in the Swiss franc?

"Speculation was mounting that he may have been caught out after the Swiss Central Bank unexpectedly devalued the franc last week, producing mammoth losses on one of his currency trades.

It was then that Adoboli’s final Facebook message, believed to have been left on Tuesday, September 6, read: ‘Need a miracle"

Kweku Adoboli: Desperate Facebook message of USB banker accused of £1.3bn fraud | Mail Online

[ThomasSoerensen]

It will not last long.

[BlasterBates]

It's an ill wind....l

as they say.

[DimPrawn]

That peg just cost me £3K in lost trades.



Not the worst pegging I've had mind.

[TimberWolf]

You been spekulating in the Swiss franc?

SNB sets floor to limit franc strength - FT.com

The surprise move prompted the franc to fall 9.5 per cent against the euro

[Mich the Tester]

[AtW]