{"id":28839,"date":"2012-04-05T12:37:00","date_gmt":"2012-04-05T16:37:00","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=28839"},"modified":"2012-04-05T12:37:00","modified_gmt":"2012-04-05T16:37:00","slug":"forex-snb-being-tested-as-euro-swiss-franc-pierces-currency-floor","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/04\/05\/forex-snb-being-tested-as-euro-swiss-franc-pierces-currency-floor\/","title":{"rendered":"FOREX: SNB being tested as Euro-Swiss Franc pierces currency floor"},"content":{"rendered":"<p><strong>By CountingPips<\/strong><\/p>\n<p>The Euro-Swiss Franc pair this morning broke through the Swiss National Bank&#8217;s currency floor of 1.20 for the first time since September 2011, touching a low of 1.1996 before bouncing higher.<\/p>\n<p>The Swiss National Bank (SNB) has vowed to defend their floor and keep the pair above 1.20 to offset too much strength in the &#8220;overvalued&#8221; franc (too much strength hurts Swiss exports). The market views the franc as a safe haven currency and money pours into this currency when a crisis arises such as the eurozone debt crisis.<\/p>\n<p>Traders will be watching if the SNB will take decisive action to kill the franc&#8217;s strength against the euro through more intervention in upcoming sessions.<\/p>\n<p>The EUR\/CHF falling below 1.20 in today&#8217;s <a href=\"http:\/\/countingpips.com\/\">forex market<\/a> action.<\/p>\n<p><a href=\"http:\/\/countingpips.com\/forex-news\/wp-content\/uploads\/2012\/04\/eurchfdaily-1.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-28840\" title=\"eurchfdaily-1\" src=\"http:\/\/countingpips.com\/forex-news\/wp-content\/uploads\/2012\/04\/eurchfdaily-1.gif\" alt=\"\" width=\"590\" height=\"400\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By CountingPips The Euro-Swiss Franc pair this morning broke through the Swiss National Bank&#8217;s currency floor of 1.20 for the first time since September 2011, touching a low of 1.1996 before bouncing higher. The Swiss National Bank (SNB) has vowed to defend their floor and keep the pair above 1.20 to offset too much strength &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2012\/04\/05\/forex-snb-being-tested-as-euro-swiss-franc-pierces-currency-floor\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FOREX: SNB being tested as Euro-Swiss Franc pierces currency floor&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-28839","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/28839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=28839"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/28839\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=28839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=28839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=28839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}