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In an unheard of move, the SNB (Swiss National Bank) shocked markets as they set a minimum level for the Swiss Franc against the Euro at a rate of 1.20. They have done this by pledging to pruchase unlimited ammounts of currency to peg the currency against the Euro. The shock move saw staggering market movement with the Swiss Franc moving 9% against the pound in 10 minutes! This ammount of movement would have meant if you had been buying CHF250k you would have saved £14,400 in less than 10 minutes!

This kind of market movement is unprecedented and highlights how important it is to have an account manager to keep an eye on the markets for you. If you don’t have an account manager please contact me on asp@currencies.co.uk to be allocated one.