JENNIFER MCKEOWN | CAPITAL ECONOMICS
In theory, this policy should be successful in devaluing the franc as there are no limits to the amount of francs that the SNB can “print”. The franc has already dropped by seven per cent to 1.20 on today’s news and we now see it remaining at around that level for the rest of the year.
JEREMY COOK | WORLD FIRST
This is intervention on a grand scale. It was the single largest foreign exchange move I have ever seen. This dwarfs moves seen post Lehman brothers, 7/7, or others. This turns up the heat on the Eurozone and economies who have benefited from weakening their currency in the past couple of years.
LOUISE COOPER | BGC PARTNERS
Changing long term global currency flows is near impossible – a lesson the UK learnt from George Soros! The main reason for Swissie strength is the flight to safety. The franc will weaken if and when investors start getting more keen on risk, but at the moment all I see is evidence of fear.