boy they fooled me, I didn't think it would last this long oh well, good for us another pair to trade
how so? from a traders point of view, it looks like it did but almost everybody knows more about it than me
The peg was only to the down side of EURCHF @ 1.20. The peg held. The Swiss doesn't care if the EURCHF goes higher, they welcome it because then they would not need to defend their peg.
It was never peg or floor. the Swiss National Bank announced in early Sept 2012 that it was prepared to buy as many euros as necessary to stop the franc strengthening beyond 1.20. The reaction was traders created a psychological fear and the 1.20 held....so far.
not only euros, but anything else out there for sale funny thing is, they had a guy with a microphone that just interviewed common people on the street and they all said the number one problem was the strong franc one guy was complaining he had to charge 8 euros just to sell a beer
so basically you're saying it's a floor. It wasn't just traders psych that held it, because they in fact bought a shitload of Euro... then diversified.
no, it was us traders that did all the heavy lifting snb just stood there, like a stern father and they will whoop your butt, if you dare cross them