The Traderszone Network

Published in TZ Latest News 27 January, 2015 by The TZ Newswire Staff

JPMorgan profited from soaring Swiss franc: Bloomberg

JPMorgan netted $250 million to $300 million on the day the Swiss National Bank (SNB) removed the franc’s ceiling of 1.20 against the euro, Bloomberg said, citing the people. JPMorgan was not immediately available for comment. Citigroup Inc (C.N), Deutsche Bank AG (DBKGn.DE) and Barclays Plc (BARC.L) ran up cumulative losses of about $400 million as a result of the SNB’s move, Bloomberg quoted the people as saying.