With EUR/CHF falling from near 1.20 to 1.10, traders are beginning to expect the SNB to come off the sidelines with some sort of action.
Bloomberg just ran a piece quoting a strategist as saying it is time for the SNB to unleash the nuclear weapon: Intervention.
If I were the SNB, I’d impose sharply negative interest rates before I spent more dough on intervention, but that’s just me…
USD/CHF has jumped to 0.7818 from 0.7708 lows shortly after the employment report.