In the past, post-intervention sell off in the CHF has been short lived and give 1. the SNB is only looking to halt appreciation and 2. CHF is still undervalued against the EUR we expect yesterday's move to be temporary. While the SNB is keen on easing monetary conditions through currency intervention helping to fight off deflation, we don’t expect the SNB to step right back in until the 1.5000ish level. On the docket today is US GDP, PCE and initial jobless claims.
(read the whole article at Ac-markets´site, in theirs news section)
