Looking into CHF

You can see my dear reader that CHF has already appreciated following SNB's decision to drop 1.20down ceiling of EURCHF which looked recently very costly, after the Swiss reserve reached CHF495b last December following CHF462.4b in last November on continued defending of that ceiling with growing expectations of watching QE in EU.  

Swiss National Bank Chief Jordan has signaled that the bank will be ready to intervene if it is needed and it looks that he means what he says after this unprecedented sudden appreciation.

From another side he has said that over time holding CHF versus other currencies can be much more costly and I see that he is right and this can weigh on the CHF which has already appreciated by this excessive way which can be followed also by profit taken. 

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