News caused bit of a temporary spike in EUR/CHF.
S&P says it has withdrawn its AAA long-term and A-1+ short-term issuer credit ratings on the Swiss National Bank. But apparently it’s only because the central bank has no rated debt outstanding, and consequently, because of the lack of market interest in the ratings.
Basically much to do about nothing from what I can see.
EUR/CHF went upto session high 1.3847 in a knee-jerk reaction and quickly came back. We’re presently at 1.3800.
