The Swiss are going crazy because they can’t figure out what to do with their currency. Yesterday, EUR/CHF collapsed after SNB President Roth ruled out intervention. This morning, the currency pair completely reversed its earlier losses because the Finance Minister said that the government would support the SNB in selling Swiss Francs. [...]

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Like Florida weather, the Swiss National Bank can’t make up their mind about whether they want to intervene in the currency market or not. Last week, the Swiss franc collapsed after SNB Vice President Hildebrand said point blank that “they could also intervene in the currency markets to prevent “renewed appreciation” of the franc. [...]

Posted in Forex Technicals, Swiss Franc, eurchf, forex blog, swiss national bank 1 Comment »