We have seen EURCHF has raised the bar from 1.2000 level which was last year closing to 1.2200. Currently trading at 1.2338 at the time of writing. The pair has show good growth in the recent days.
Today SNB chairman Jordan indicated that CHF is likely to remain weak against EUR and will get weaker over time. There are rumours in the market that SNB might raise the bench mark for EURCHF as 1.2500 for rest of the year.
Before 2009 Swiss government didn’t have any policies to intervene and that’s why CHF went stronger and stronger against most majors. In 2010 Swiss government decided that they will intervene because Strong CHF was affecting their export and tourism industry which directly affect the economy.
Trade Safe and wise.
rakesh