Via Bloomberg
Great point on the Bloomberg's Market's live blog.
The ECB's verbal interventions against euro strength is a pain for the SNB. The SNB want the euro higher against the CHF to help their export economy. The ECB want the euro lower to support theirs.
This does set the ECB against the SNB this week, so well worth keeping an eye on this narrative going forward. The SNB meet next week and they will carry on repeating the CHF is 'highly valued' , that they are continuing to intervene and the -0.75% interest rate will be repeated.
Watch out for this battle to be played out on the EURCHF pair
