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UBS Had No Loss in Turmoil After SNB Scrapped Franc Cap

UBS Had No Loss in Turmoil After SNB Scrapped Franc Cap

UBS said that the decision of the Swiss Central Bank to delink the franc to the Euro did not affect its financial results.

Removing the 3-year limit growth of the franc against the Euro at $ 1.20 caused "significant exchange rate volatility, however, generally does not lead to losses for the Bank.

 

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bud 

99% of market reactions are kneejerks to phoney bets on stocks/bonds nobody owns

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Ray Rock 

Governments shouldn’t be manipulating rates, let the market decide the proper exchange rate.

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