BlackRock money manager Scott Thiel notes that the EUR/CHF returning to 1.2000 without the need of the SNB's defence will be a victory for the SNB
He questions what happens when 1.2000 is breached - where will price go. He notes that the Swiss monetary policy is unlikely to change before the ECB so he considers the differnetial in price movement to be down to an increasing 'risk-on' sentiment. He notes that Italy's woes have receded, Trump's tariffs are being negotiated and Brexit situation is being handled more smoothly.
I will tip my hat as 1.2000 is passed in memory to a very painful day. At least I can laugh about it now, well almost...
