FX trader du jour [updated] | FT Alphaville

FX trader du jour [updated]

Hildebrand’s wife, Kashya Hildebrand, said in a written statement published on Swiss television late yesterday that her “interest in the dollar purchase was motivated by the fact that it was at a record low and almost ridiculously cheap.”

Via Bloomberg. Interesting background to that statement…

Update — A little more context here, as requested… The interesting bit is not the trade per se (all above board and cleared with the SNB, and if Mrs Watanabe can do it, we don’t see why Mrs Hildebrand can’t. She’s certainly savvy about it with experience in trading). Instead it’s the political scandal that’s developed from personal documents of Philipp Hildebrand being offered to opposition politicians, in violation of Swiss banking law.

They wouldn’t do it to Ben Bernanke would they?

Second update — Also, the SNB has previously published a statement confirming the trades were legitimate and complied with SNB rules (Philipp Hildebrand notified the central bank the day after the trades). Again, it’s the political attack on the SNB’s euro exchange rate target that’s been extraordinary here.

Related links:
Swiss banker’s wife breaks silence on trades – FT
The Hildebrands and Swiss secrecy – FT Money Supply