Highest: 1.5193 CHF on 10 Oct 2009.
Average: 1.3271 CHF over this period.
Lowest: 1.026 CHF on 10 Aug 2011.
The CHF move is likely a reaction by the market to test “the will” of the SNB without a leader in place. The EURCHF has been moving down since SNBs Hildebrands resignation as SNB head after the scandal from his wife’s questionable currency trades. The pair moved below the 1.2100 level today which is getting closer and closer to the 1.2000 pegged floor. This is also the lowest level since September 20th. Leader or no leader I have to think that the central bank will operate as expected and support the level they set.
Not much action was expected today, but with the fall of the euro against all currencies we see the CHF moving up against the Euro.
The market closed at 2012 Jan 13 7:35 GMT 1.2182
Monday we should see the CHF surge against the Euro in early morning trading as the euro continues to drop of the downgrades announced by S&P