If we were gonna get a Swiss peg, it was going to come today. That was the thinking headed into today and now that the Swiss government has punted the issue back to the SNB, odds are we won’t get one anytime soon.
USD/CHF has slumped to 0.7870 from 0.7975 a mere hour ago. EUR/USD is being dragged lower in the process, as are equities.
EUR/USD has fallen back to the 1.4430 area where sovereigns were solid buyers earlier today.
