Alphaville's Dan Mccrumb Called It (Chf)

A yoke weeks agone he published "Crowded merchandise watch: no-one likes the Swiss franc".

The article was forcibly brought to my attending past times somebody who knows currencies meliorate than I too who said: "He's right, I intend nosotros should create something"

I answered "Sure, fine, I'm inwards the middle of some stuff."

And I pose the finishing touches on "CryptoKitty Trading Volume Collapses: Andreessen, Union Square too Climateer Hurt Worst" 

I too thence wishing I were kidding.

Here's a fortnight of franc. Versus the dollar it's been ane of the stronger of the major currencies:

FinViz

And ane of the to a greater extent than interesting bets.
Because Switzerland runs a merchandise surplus of some ii 1/2 billion CHF/month

 

TradingEconomics (on blogroll at right)

The cardinal depository fiscal establishment listens to the large exporters too attempts to discourage forcefulness inwards the currency.

So here's what Mr. McCrum noted at the time, the tip is inwards the headline:

Crowded merchandise watch: no-one likes the Swiss franc

Influenza A virus subtype H5N1 quick update on what currency trading hedge funds are doing, courtesy of BMO Capital Markets.
Based on the June 12 Commitment of Traders survey published past times the Commodity Futures Trading Commission, shorting the Swiss franc is the near lopsided trade:

In absolute terms, of course, shorting the euro is the biggest position, at a notional $13.6bn equivalent, exactly the mix of long too brusk positions is less uneven, too smaller than has been typical inwards recent years. As BMO write:

However, that [short euro] seat was entirely 49 per cent of its 3Y maximum, too thence it was entirely a moderate seat from that perspective. Short-CHF, worth a USD equivalent of 5.0bn, was smaller inwards notional terms, exactly was at 78 per cent of its 3Y max. That was the largest seat past times that gauge....

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