That’s what a NY based hedge fund said to me this morning, meaning that we could be in for another 1992/BOE repeat of the big hedge funds and investment banks taking on a central bank. The SNB would do well to take heed.
If you are buying dips to 1.2000 hoping that the SNB can defend that level, then keep stops tight and book profits on relief rallies as this fight might go on for a few months.