Remember the article that we discuss about Swiss CHF as a safe haven, and we at Renomic did mentioned that Swiss National Bank (SNB) will intervene. Finally they are here!
The SNB targets the 3 months LIBOR rate, and mentioned that rally in CHF is not good for the country.
As widely expected, the central bank knew what is good for the country and made decisive action to curb the upward pressure. Will Bank of Japan fellow suit? Best guess is 'Yes'.
We shall see.