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Swiss Franc

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  • *Paris shootings add to sombre mood for luxury companies. GENEVA, Jan 20- Richemont's flagship Cartier brand will increase prices for watches and jewellery by five percent in the euro zone to limit the damage to its margins following the surge in the Swiss franc. This applies to both jewellery and watches, but we are keeping prices in Switzerland stable, "Cartier...

  • WARSAW, Jan 20- Polish Prime Minister Ewa Kopacz ordered an investigation on Tuesday into local banks' offering of mortgage loans in Swiss francs, a practice which has put 550,000 Polish homeowners at the mercy of financial markets since the franc surged last week. Separately, the heads of major banks were meeting the finance minister, regulators and Central...

  • WARSAW, Jan 20- Polish Prime Minister Ewa Kopacz ordered an investigation on Tuesday into local banks' offering of mortgage loans in Swiss francs, a practice which has put 550,000 Polish homeowners at the mercy of financial markets since the franc surged last week. Separately, the heads of major banks were due to meet the finance minister, regulators and Central...

  • Dollar rises to 1-week high vs yen after China data Tuesday, 20 Jan 2015 | 5:32 AM ET

    The dollar hit a one-week high against the yen after China growth data was not as bad as many had feared, curbing demand for the safe-haven Japanese currency.

  • Is gold the ultimate safe haven?  Tuesday, 20 Jan 2015 | 4:20 AM ET

    Is gold still a safe haven? Mark O'Byrne, executive and research director at GoldCore, seems to think so, saying that the Swiss National Bank's recent decision was the "icing on the cake" to show how gold thrives in a volatile environment.

  • Should you try to catch the falling Swiss knife? Monday, 19 Jan 2015 | 8:38 PM ET
    People queue outside a currency exchange office in Geneva, January 16, 2015.

    Switzerland's stock market dived after its central bank de-pegged its currency from the euro, but it's not time to bargain hunt yet, analysts said.

  • Euro edges up as investors eye crucial ECB meeting Monday, 19 Jan 2015 | 2:51 PM ET

    The European Central Bank could take its boldest steps yet to revive the euro zone's moribund economy.

  • LONDON, Jan 19- The Danish crown hit a 2-1/ 2 year high against the euro on Monday as investors seeking a safe haven switched from the Swiss franc in the wake of Switzerland's move to abandon its currency cap and impose hefty negative interest rates. Traders said some speculators were betting that Denmark could be next to abandon its currency peg to the euro, given...

  • Yuan falls to 2-1/2 week low after weaker midpoint Monday, 19 Jan 2015 | 4:28 AM ET

    SHANGHAI, Jan 19- China's yuan weakened to a two-and-half-week low on Monday, after the central bank set a weaker midpoint and on position squaring following a surge in the Swiss franc last week. The People's Bank of China set the midpoint rate at 6.123 per dollar prior to market open, weaker than the previous fix of 6.1188. The spot market closed at 6.2203, 137 pips...

  • Expect more SNB intervention in Swiss franc: Pro  Monday, 19 Jan 2015 | 1:00 AM ET

    Michael Gallagher, director of research at IDEAGlobal, says the Swiss National Bank will be comfortable with a euro/Swiss franc level of 1.10 euros and will intervene in the foreign exchange market to push the currency to that level.

  • Some major banks also lost out when the Swiss National Bank scrapped its three-year-old cap on the franc against the euro without warning on Thursday, including Britain's Barclays which lost "tens of millions" of dollars, an industry source said. Retail broker Alpari UK filed for insolvency on Friday, while New York- listed FXCM Inc, one of the biggest platforms...

  • ZURICH, Jan 18- Credit Suisse said on Sunday it planned to start charging institutional and large corporate clients for Swiss franc accounts following a move by the Swiss National Bank to introduce negative interest rates. "In view of current developments, commission on credit balances is being introduced in the case of institutional clients and large...

  • LONDON, Jan 18- After a head-spinning bout of volatility, next week will be dominated by one question: Will the European Central Bank take the ultimate policy leap or pull its punches? With markets in an unusually febrile state- oil and copper have plunged while the Swiss franc rocketed after Switzerland abandoned its currency cap- it's a fair bet that if the ECB...

  • What happened to the Swiss franc? Friday, 16 Jan 2015 | 5:37 PM ET

    NEW YORK— One of the world's safest investments— the Swiss franc— has swung wildly this week after the central bank in Switzerland announced it would scrap its policy of limited the rise of the currency. Two brokerage firms in London and New Zealand's have announced huge losses and will have to close. Since 2011, the Swiss National Bank has had a program to keep its...

  • Fallout from the Swiss franc shocker: Gartman Friday, 16 Jan 2015 | 5:13 PM ET
    An employee counts a stack of multiple denomination Swiss franc bank notes in this arranged photograph inside a currency exchange store in London on Jan. 16, 2015.

    Dennis Gartman, along with Deutsche Bank's David Bianco, talk about who is hurt by the Swiss central bank's move.

  • NEW YORK, Jan 16- Retail foreign exchange broker FXCM Inc, reeling after customers lost more than $200 million from the surging Swiss franc, will get a $300 million loan from Leucadia National Corp to keep operating, the companies said in a statement Friday. "Leucadia`s support and this financing are by far the best alternative for FXCM, our customers, our...

  • GENEVA, Jan 16- Reaction to the Swiss National Bank's scrapping of its cap on the value of the Swiss franc has been overdone, the bank's President Thomas Jordan said in a newspaper interview on Friday. "We see significant excesses in current exchange rates," he told Le Temps and Neue Zuercher Zeitung, adding that the bank had been aware that its shock move could have a...

  • Jan 16- Leucadia National Corp will give $300 million to retail foreign exchange broker FXCM Inc to meet regulatory capital requirements, the two companies said on Friday. The move comes after FXCM lost $225 million due to the surging Swiss franc, caused by the scrapping of a three-year-old cap on the value of the franc against the euro by the Swiss National Bank...

  • Swiss timing shocking, not the action: Pro  Friday, 16 Jan 2015 | 4:07 PM ET

    Glenn Stevens, Gain Capital CEO, reacts to the Swiss National Bank's surprise move to keep the franc artificially low against the euro.

  • Franc shocker: Let's get some clarity  Friday, 16 Jan 2015 | 3:21 PM ET

    Discussing the damages from the major move by the Swiss National Bank, with David Bianco, Deutsche Bank, and Dennis Gartman, The Gartman Letter.