EUR/CHF
Hit an all time low this morning of 1.2166 which can’t be pleasing the SNB very much, but as one senior market analyst reminded me , the last time they got involved in attempted intervention it was akin to trying to catch a falling piano. Expect some rhetoric if the move is extended further, but intervention probably unlikely until the flow reverses. Euro swissy is currently around 1.2180

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Hi Joe – so you expect SNB could intervene if we start to rally back to say 1.230 ? Or would it need to be more than that?
1.23??? Holly crap man, you are bloody damn optymist =) I believe if we see sustainable drop in USDCHF and EURCHF to new lows let;s say 0.85 and 1.20 then they would approach. I really don;t think they will let CHF being more expensive than EUR!!! But If I were them I would intervene much earlier, round 0.9 and 1.25. But it;s just me =)