Odey Gets Lucky As $3.5B In Swiss Franc Shorts Sour – ValueWalk Premium

Odey Gets Lucky As $3.5B In Swiss Franc Shorts Sour

Not that things were going great for macro hedge funds already, but the added blow Thursday from Swiss National Bank has sent shockwaves stunning shorts in CHF. The SNB announced that it will be discontinuing its efforts to keep the Swiss franc artificially low against the euro. The news sent the so-called safe haven currency soaring as much as 30%.
Franc minimal exchange rate lifted
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