Fritz Zurbruegg also notes that the risks to the SNB balance sheet are manageable.

The question gaining momentum is how long the cap is going to last. Adam pinned his colours to the mast yesterday

EUR/CHF strolling up to 1.2335 after rebounding from overnight lows at 1.2315 boosted by USD/CHF taking a run up towards 0.91 and reaching 0.9091.