Is the market willing to fight the SNB?

My guess is no. Now that they have finally smoked SNB, my guess is that shorts in EUR/CHF will take the hint and head to the sidelines, if they have not already. Buy-the-dips will be the new battle cry, I’d imagine, especially with focus shifting away from Greece, at least for the moment, reducing safe-haven demand.

UPDATE: Reuters reports the SNB refuses comment on forex movements…