SNB's Danthine calls franc losers narrow-minded
It was 'absolutely certain' the SNB would end Swiss franc floor
Market participants are "narrow-minded" to suggest a dramatic surge in the value of the Swiss franc was impossible to predict, says Jean-Pierre Danthine, vice-chairman of the governing board of the Swiss National Bank (SNB).
After the SNB chose to end the EUR/CHF exchange rate floor on January 15, several traders, risk managers and executives described the resulting leap in the value of the franc as anything up to a 300 standard deviation move. In January, the chief financial officer of Goldman
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