EUR/CHF: Update on Christmas Day price action

From the FXWW Chatroom:

For those just returning after Christmas – there has been a bit of a stewards enquiry as to what exactly happened to EURCHF on Xmas day… there are several suggestions that we traded sub 1.2000 thru the SNB cap – not having seen the price action myself I can’t provide a definitive answer, however SNB has said:
“The minimum exchange rate was not breached at any time. ”
“The exchange rates cited in media are non-binding price indications which banks can offer their clients. The data in no way illustrates that transactions were conducted above 1.20 in the interbank market”
(ie below 1.2000 in EURCHF)

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