Swiss franc
Review of 2012: January – March
FX Week looks back on the biggest stories of 2012, starting with the first quarter. To read the original stories, click on the links in black
UBS holds Swiss franc lead despite intervention
UBS wins best bank for the Swiss franc and best bank for post-trade services as it continues to provide liquidity despite the challenges posed by the EUR/CHF floor
EBS to move EUR/CHF away from decimalisation
Icap's EBS will complete the transition back to half and full-pip pricing on November 26 as data suggests the change has enhanced the depth of liquidity on the platform
EBS volumes hit multi-year low in October
Trading volumes on both EBS and Thomson Reuters fell even further last month, but some traders are expecting a pick-up in volume now that the US elections are over
Record spots dislocation in covered interest rate parity
Record Currency Management is looking to help its clients profit from a dislocation in the covered interest rate parity between several currencies
Contrarian euro view lands RBS on top
Strategists at RBS accurately forecast the euro would rally in the wake of the ECB's bond-buying announcement, but they expect it will begin to fall towards year-end
Central bank intervention weighs on investor sentiment
FX strategists expect continued uncertainty for major currencies in the fourth quarter as a result of central bank intervention
VIDEO: Saxo Bank G-10 Currency Market Outlook
An overview of currency markets into the fourth quarter and new year
CIBC on top with stable yen forecast
Canadian Imperial Bank of Commerce forecast in September 2011 that the yen would hold steady against the euro and the US dollar, landing the bank at the top of the 12-month currency forecast rankings
Euro will continue to rise, says HSBC
HSBC's bullish view on the euro - which it continues to hold in its current forecasts - lands the bank at the top of the one-month forecast rankings
SNB's continuing resolve drives creativity among Swissie traders
A year after the Swiss National Bank imposed a 1.20 floor on EUR/CHF to stem the appreciation of the Swiss franc, the minimum rate remains in place, driving traders to seek new ways to trade a currency afflicted by low volatility. Miriam Siers reports
EBS ditches decimals as part of platform overhaul
Full-pip and half-pip pricing will return to major currency pairs on EBS from September 17, as platform's new management team recognises flaws in decimalised pricing
Lloyds spot-on with bearish euro forecast
An accurate prediction in mid-April that the euro would fall to 1.22 within three months lands Lloyds Banking Group at the top of the forecast rankings
Market sceptical of quick fix for Europe
Thomson Reuters – IFR Markets topped the one-month forecast table, with an accurate prediction that the continuing eurozone crisis would weigh on the euro
Lloyds spot-on with Swissie weakness bet
Lloyds lands itself at the top of the one-month forecast rankings after its accurate prediction of Swiss franc weakening during May
SEB rises in rankings as Swiss franc falls
SEB accurately forecast that Swiss franc would weaken against the dollar in its mid-April forecasts, putting the Swedish bank at the top of the one-month rankings
Forex markets absorb political chaos in Europe
Participants reacted relatively calmly to political developments in Europe last week, and the absence of credible alternative currencies prevented a major sell-off
Chart-topping CMC goes against the grain on yen
Strategists at CMC Markets took an accurate view on the long-term direction of two major safe-haven currencies in 2011, landing the firm top in the 12-month forecast rankings
HSBC on top with slow-burn forecast on yen weakness
Strategists at HSBC took the view in early January that the yen would weaken, but less acutely than some anticipated, landing the bank at the top of the three-month forecast rankings
Currency floor breach raises questions over SNB policy
The Swiss National Bank should consider enlisting the help of top-tier banks to keep EUR/CHF above 1.20, forex traders suggest
Morgan Stanley calls time on euro and sterling rally
The US bank accurately forecast the euro and sterling would rally moderately against the US dollar during the first quarter, landing it at the top of the one-month rankings, but believes both currencies will now depreciate
CMC on top of ECB's 2011 rate hike reversal
CMC Markets accurately predicted the euro would rise and then fall as the ECB reversed its interest rate policy in 2011
Bank Sarasin: Swiss franc is under control
The Swiss private bank's chief economist believes the threat of further intervention from the SNB will prevent further appreciation of the franc
Central bank's credibility was vital to introducing minimum rate, says SNB’s Schlegel
The decision by the Swiss central bank to introduce a minimum rate to the euro last September was possible because of the SNB’s credibility, says the central bank’s head of foreign exchange and gold