- SNB Chairman Jordan mentioned earlier today that the SNB has not intervened in the FX market since 2012
- The bank enjoys high credibility and verbal intervention has been enough so far to keep the 1.20 floor intact
- No doubt in the market that the SNB will act if needed, hence specs more keen to buy the dips rather than try to push it lower
- The SNB has not set levels where it would begin it’s intervention, but some bank analysts believe 1.2020 would be the level
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