Intervened at the time.

  • Any doubts on SNB resolve to defend franc cap misplaced
  • SNB has no plans to change monitoring system of EUR/CHF
  • SNB cannot exclude euro being offered below CHF 1.2000 in future
  • To enforce minimum rate with all means at its disposal
  • Ready to buy foreign exchange in unlimited quantities
  • Policy unchanged after franc rises above CHF 1.2000
  • Some EUR/CHF transactions occurred below CHF 1.2000 on Thursday
  • At no time did ‘best available rate’ fall below 1.2000
  • SNB credibility hasn’t suffered from breach of the floor
  • Banks may breach CHF 1.2000/euro, but not in ‘relevant market’
  • SNB cannot completely control global CHF currency market
  • SNB franc cap breach was in ‘segmented fx market’
  • Swiss franc still ‘overvalued’
  • Franc poses substantial challenges for Swiss economy
  • Confirms SNB ‘active’ in currency market Thursday

Dow Jones reporting.

EUR/CHF trading at session high 1.2030. Whoopeeee

;)