What Will The Swiss National Bank Do?

Earlier in April, SNB President Thomas Jordan said financial markets remain in a “fragile” state and the central bank didn’t want to “provoke” an appreciation in the franc by changing its monetary policy.

EURCHF just traded above 1.20 for the first time since the SNB shocked markets in January 2015 with its decision to remove the cap on the currency.

There has been no sign of SNB intervention this month: traders

So much for ‘safe-haven’ flows?

Latest flows driven by leveraged and inter-bank demand on the back of monetary policy projections and U.S. sanctions against Russia, which are seen hurting some Swiss companies where Russian names hold exposure, two traders in London and Europe tell Bloomberg.

The Franc has lagged behind its haven peer, the Japanese yen, in recent times of market turmoil…

Are Washington sanctions driving Swiss Franc outflows?

Are Russian oligarchs selling swissy and buying bitcoin?

The timing of the moves are certainly coincidental.