By FXEmpire.com
The EUR/CHF pair continued to move sideways on the session for Friday as the Swiss National Bank has continued to prop this pair up and above the 1.20 level. There are reports that the SNB is buying as much as 7 million Euros a minute to keep this pair above the 1.20 level. While this seems like an unsustainable amount, the Swiss can print as many Francs to buy Euros with as they want. In other words – the SNB will win this battle under any circumstance except one – the complete and utter disintegration of the Euro. Because of this, we aren’t involved in the market beyond a small position that is collecting a small amount of swap every day.
Click here a current EUR/CHF Chart.
Originally posted here
