20 minutes – Incorrect data source leads to price jump

1.21 Franc costs one Euro on Tuesday at 1 pm. Ten hours earlier it had been 1.13 francs. This is shown by the price charts of finanzen.ch and cash.ch.

Now it is clear what caused the price jump. According to Jürg Schneider, head of Media Relations at the Swiss financial infrastructure group SIX, a bad data source led to price jumps. The error had meanwhile been corrected.

Earlier, several corporate journalists had suggested that an intervention by the Swiss national bank led to the rise of the euro.

«This is a fake»

UBS and many other platforms, however, continued to offer the euro for CHF 1.13. Moreover, the stock exchanges are closed worldwide on 1 January. So it is only traded with a very small volume.

For bank professors Hans Geiger it was clear: "This is fake. If the euro were to do so, this development would also have to be reflected in the exchange rate of the euro or the dollar or the dollar-franc exchange rate – which is not the case. »


Source link