Makes you wonder if they let a few go into the rally.
As much as they want to see this thing soar, when you own a half-trillion euros sometimes you “feed the chickens when they’re hungry”.
More surprising to me than this EUR/CHF rally is the fact that it lagged the rally in EUR/USD by more than a month. Once the euro trade went from being on of the continued existence of the euro (following Draghi’s “will do what it takes” speech) to a short-covering trade, it was remarkable that EUR/CHF didn’t budge for a month…
