01 September 2014
Public Relations, Saxo Bank
Saxo Bank has decided to raise its margin on CHF to 8%, due to the recent appreciation of CHF.
Over the recent weeks, there has been increased pressure on the 1.2000-1.2050 EUR/CHF peg, with the spot market leaving the 1.2150-1.2250 range where it has been for most of 2014, and making a low of 1.2050 on 28 August, 2014.
On the back of this move, there has been a build-up of short CHF positions in the broader market, which could represent a large risk should the 1.2000 peg give way. As such, any breach of the 1.2000 peg could see a significant appreciation of CHF.
To reflect this potential increase in risk and to protect our clients, Saxo Bank has decided to raise the margin on CHF to 8%.
The increase will take place Monday, 8 September, 2014 at 15.00 CET.
Kasper Elbjørn, Head of International Communications
+45 3065 4300