DislikedMay be pointing to a coming breakdown of the risk on/off trade correlations too.
Given the swiss are sitting on so much gold (allegedly), a major event in europe may also cause a sharp rise in the chf.
We have talked before about the number of outstanding underwater CHF denominated loans across europe (eastern europe). If these unravel there will need to be a strong wave of chf buying done by swiss banks that could support such a move without pronounced eur strengthening.Ignored
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