The CME is raising Swiss franc futures margin requirements in two stages starting tomorrow. As of tomorow, margin requirements will increase 20%, then, by Friday, margins will have risen 33% for Swiss franc futures. This action follows an 8/10/11 raise for franc futures.
The Swiss franc was used as a safe haven recently as Euro woes worsen. The SNB (Swiss National Bank) took steps today intervening to weaken the value of its currency.
More information to follow. This move is interesting considering that the CME began raising gold margin requirements on 8/10/11, followed by an additional raise two weeks later on 8/24/11. Tomorrow, 9/7/11, marks the two week interval again for the gold margin hikes, thus, stay on guard for a potential gold margin raise announcement tomorrow, perhaps in the same time frame around 7 PM EST.
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