The Swiss National Bank has been intervening in the FX market to slow/stop the appreciation of the CHF against the Euro for the past six months. This week they threw in the towel and will let the Franc float higher. It cost them a bundle. 8bn marked to market to date, only hope is for Euro to gain, and all the problems of Europe to disappear ASAP, perhaps then their positions can be closed by off-loading Euros. Also, in an attempt to get out as soon as b/e, the previous break intervention levels, might prove to be strong resistance zones. Something to watch, let Euro make some correction to those tasty levels…

Original article at: SNB Loses 8b on Euro Intervention …

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