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Swiss central decision to shake the global foreign exchange markets...

Strong surprise Central triggered Swiss re-shuffle all the cards in the global currency markets, after three years from the ceiling to the price of the franc against the euro at a level of 1.2 mode, the central canceled the ceiling and allowed the franc to rise, causing extensive losses and threatened the continuity of a number of funds and companies Currency Trading .

After the earthquake that triggered the sudden announcement of the Central Bank on the abandonment of the Swiss franc exchange rate is installed in front of the euro policy, try to boss Thomas Jordan Thomas Jordan calm markets, stressing that the reaction was excessive and that the balance will return but it will take some time.

However, it may be difficult for companies, financial institutions and affected customers accept these assurances after heavy losses incurred.

After giving up the SNB on roof price franc against the euro franc jumped by about 40% motive major Swiss companies listed on the Stock Exchange share prices to decline, threatening the future of a number of foreign currency trading firms notably FXCM Inc. is the largest online trading companies in America that have suffered a loss of $ 250 million, which prompted the company Leucadia National Corp to supply it with a loan of $ 300 million, allowing it to complete its operations. And this loan for two years, holds a priority in repayment interest rate of 10%.

The company is ALPARI other losing about $ 40 million, and declared insolvency. Among the victims is also the oldest fund firm Everest Capital Global Fund that has stood in the face of five previous financial crises in emerging markets, but collapsed after the SNB's decision, as it was betting on a decline in the franc. Assets has reached the end of last December, eight hundred and thirty million dollars, but the company continues to seven other funds manage assets exceeding two billion dollars.

Turning to the world's major banks losses, losses all> sources estimated Duch Bank, and Sitni sunset (CITIGROUP and DEUTSCHE BANK) one hundred and fifty million Dolaruchsaúr "Barclays" BARCLAYS about a hundred million dollars.

It is noteworthy that some of the reasons Central to give the Swiss a policy adopted since 2011 to install the franc's exchange rate against the euro Hoturadja witnessed in the European currency, which made it difficult for the central continue to intervene to keep the ceiling of the exchange rate, especially the central Aruban provider on more quantitative easing policy . It is noteworthy that the central Swiss was keeping the exchange rate at the level of 1.20 francs per euro, through buy unlimited amounts of euro in foreign exchange markets.

It should be noted that increased the element of surprise central to step Swiss latter is a previous statements this month, the Central Chairman stressed the importance of the specified price franc against the euro and modern statements roof last week to Vice President Jean-Pierre Danthine that this ceiling will remain the foundation of the Central Policy stone.