The Swiss franc is soaking it up as much as the yen is and we’re down through the earlier lows. 1.2103 was the low at the beginning of March and the way things are going we could be seeing that and worse.
EUR/CHF daily chart 13 03 2014
If we duck below 1.21 cuckoo clocks are going to be going off all over SNB HQ.
Much is made on grabbing dips and picking tops but this isn’t one of those moments. As Adam has pointed out this is fear we’re trading and it may pay to sit on the sidelines while it plays out.
